17th Jun 2015 12:16
LONDON (Alliance News) - Smith & Nephew PLC Wednesday said it has received payment in connection with the recent affirmation by the US Court of Appeals for the Federal Circuit of a USD95 million patent infringement judgment against Arthrex Inc.
The patent pertains to fundamental technology used to implant suture anchors to surgically reattach soft tissue to bone.
Smith & Nephew said Arthrex paid USD99 million in satisfaction of the judgment, which includes USD4 million in costs and interest payments. Net of various expenses, Smith & Nephew expects to recognize more than half of this amount in its second-quarter trading report.
Copyright RTT News/dpa-AFX
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