Stay Curious. Stay Connected.
MailNewsletters♡Donate Now
Sign up
*Password must be at least 8 characters and contain one uppercase letter, one lowercase letter, one number and one symbol.
Already have an account?
By submitting, you consent that you are at least 18 years of age and to receive information about MPR's or APMG entities' programs and offerings. The personally identifying information you provide will not be sold, shared, or used for purposes other than to communicate with you about MPR, APMG entities, and its sponsors. You may opt-out at any time clicking the unsubscribe link at the bottom of any email communication. View our Privacy Policy.
Sign in to your profile
Forgot Password?
New to MPR News?
Welcome back
to news
for you
Reset Password

Enter the username on file and we'll send you a code to reset your password.

Still require assistance or not sure what your User Name is?
Welcome back
to news
for you
Email Verification

A verification code has been emailed to

Still awaiting the code?
New York (AP)

Medtronic to settle Abbott suit for $400 million

Go Deeper.

Create an account or log in to save stories.

Like this?

Thanks for liking this story! We have added it to a list of your favorite stories.

Medtronic Inc. said Monday it agreed to pay Abbott Laboratories $400 million to settle patent lawsuits related to the design of vascular stents.

As part of the settlement, the two companies agreed not to sue each other over matters related to stents or stent delivery systems for the next 10 years. Medtronic said it will take a $400 million charge in the first quarter. Medtronic will also make a $42 million payment to privately held evYsio Medical Devices.

Stents are mesh metal tubes used to prop open arteries that have been cleared of fatty plaque.

Minneapolis-based Medtronic said the agreement settles all outstanding coronary stent litigation between the companies.

Abbott, of North Chicago, said it will record a one-time gain in the third quarter from the settlement.