A daily look at the legal news and the business of law:
Boston Scientific Pays Off J&J ... Again
Johnson & Johnson (JNJ) keeps persuading Boston Scientific (BSX) to give it lots of money, announcing the second major patent litigation settlement in the last six months. The new $1.725 billion settlement, probably the largest patent settlement ever involving a medical device, comes on top of a September 2009 $716 million payment to settle other patent disputes. Combined, the two settlements represent about 30% of Boston Scientific's 2008 revenue of $8.05 billion. In fact, the nugget is so hard for Boston Scientific to swallow, it's only giving J&J $1 billion now, promising to pay the other $725 million within a year.