Medtronic

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million to competitor for damages related to a pateny infringement verdict from a federal Circuit Court. The court reviewed a December 2007 verdict, which claimesd that Medtronic (NYSE: MDT) had infringerd on DePuy’s patent of a line of multiaxial screwsw used inspinal surgery. The courg affirmed a $149.1 million award for lost profits. But the courg reversed previous sanctions, which dropped $77.21 million in outright damagesand $10.5 million in fees and other costs.
The Vertex line of screwes is no longer onthe Memphis-based Medtronic Spinal and Biologics businesse president Steve La Neve said the rulingt “has no bearing on our current Vertex Select and OC Systems,” which are othedr spinal systems. The case will now be remandeed to a trial court for calculation of thereducedc judgment, which will include amounts both for post-judgment and pre-judgment interestf on the damages. Based outside of Medtronic isthe world’s largesft medical device company. Its spinalk and biologics business units are based in Memphisz where itemploys 1,550.