| Smith and Nephew given injunction to prohibit selling of devices by other company | Posted on 06/11/2008 in Medical Company Financials Smith and Nephew has issued an injunction to prohibit Athrex from selling infringing medical devices.
The patent, exclusively licensed to Smith and Nephew by Dr John Hayhurt of Portland, was sided by the US district court.
In June, a jury determined that Arthrex wilfully infringed the patent by marketing and selling Bio-SutureTak, Peek SutureTak, Bio-PushLock and Peek PushLock suture anchors.
Effective from 60 days after the court enters final judgment, around the end of 2008, Arthrex must stop manufacturing and selling the infringing products.
President of Smith and Nephew Endoscopy, Michael Frazzette, said that he was pleased that the judge had granted the decision in the company's favour.
He added: "Smith and Nephew remains committed to defending its intellectual property and the hard work of the surgeons who partner with us in developing and commercialising these innovative tools and techniques for the ultimate benefit of the patient."
Over the last five years, the organisation has seen grown revenues, from $1,939 million (1,217 pounds) to $3,369 over the five years up to 2007.
The company has also invested $120 million in to research and development activities, accounting for around five per cent of sales overall in the organisation's four businesses.Other news stories from 06/11/2008
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