AngioDynamics Lawsuit Alleges C.R. Bard is Violating Antitrust Laws, Harming Competition and Limiting Access
Published: May 31, 2017
ALBANY, N.Y., May 31, 2017 (GLOBE NEWSWIRE) -- C.R. Bard has illegally tied the sale of its tip location systems to its line of peripherally inserted central catheters (“PICCs”), violating federal antitrust laws, preventing competition in the marketplace and limiting patient access to superior technology, according to a lawsuit filed today by AngioDynamics (NASDAQ:ANGO). AngioDynamics, a leading provider of innovative, minimally invasive medical devices for vascular access, surgery, peripheral vascular disease and oncology, filed the lawsuit in the U.S. District Court for the Northern District of New York.
Tip location systems are devices that can be used to aid healthcare professionals in the bed-side placement of a PICC. The lawsuit claims that Bard has a dominant position in the tip location system market and will only sell the proprietary stylet necessary to operate its tip location systems preloaded in its PICCs, not separately which would allow any type of PICC to be used with the tip location systems. By doing so, customers who want to buy Bard’s tip location systems must also buy Bard’s line of PICCs, preventing hospitals and other medical providers from purchasing AngioDynamics’ superior BioFlo PICCs.
“AngioDynamics introduces innovative technologies, like the BioFlo PICC, that are designed to improve patient outcomes and reduce costs to the healthcare system,” said Chad Campbell, Senior Vice President and General Manager of AngioDynamics’ Vascular Access Division.
BioFlo PICCs offer a benefit to patients in the marketplace due to its proprietary technology, Endexo, that test results have demonstrated has 87% less thrombus accumulation on its surface than traditional PICCs1, producing fewer complications and facilitating higher patient care at a lower cost.
“This case involves a classic violation of the antitrust laws. Bard has no justification for preventing purchasers from choosing to use its market-leading tip location systems with AngioDynamics’ innovative BioFlo PICCs,” said Philip Iovieno of Boies Schiller Flexner, antitrust counsel for AngioDynamics.
Jim Clemmer, AngioDynamics President and CEO stated, “We are committed to fighting Bard’s illegal scheme that has been detrimental to patients, reduced competition and led to increased cost in the marketplace; and violated the federal antitrust laws.”
The lawsuit seeks to end Bard’s violation of the antitrust laws and recover treble damages for its losses due to Bard’s violations, as well as attorneys’ fees and other costs. AngioDynamics is represented by Philip Iovieno and Anne Nardacci of the law firm of Boies Schiller Flexner LLP.
AngioDynamics Inc. is a leading provider of innovative, minimally invasive medical devices used by professional healthcare providers for vascular access, surgery, peripheral vascular disease and oncology. AngioDynamics’ diverse product lines include market-leading ablation systems, fluid management systems, vascular access products, angiographic products and accessories, drainage products, thrombolytic products and venous products. More information is available at www.AngioDynamics.com.
1 Based on benchtop test results which may not be indicative of clinical results. Data on file.
AngioDynamics, the AngioDynamics logo and BioFlo are trademarks and/or registered trademarks of AngioDynamics Inc., an affiliate or a subsidiary. Endexo is a trademark and/or registered trademark of Interface Biologics, Inc. All other marks are property of their respective owner.
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements regarding AngioDynamics' expected future financial position, results of operations, cash flows, business strategy, budgets, projected costs, capital expenditures, products, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include words such as "expects," "reaffirms," "intends," "anticipates," "plans," "believes," "seeks," "estimates," "optimistic," or variations of such words and similar expressions, are forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties. Investors are cautioned that actual events or results may differ from AngioDynamics' expectations. Factors that may affect the actual results achieved by AngioDynamics include, without limitation, the ability of AngioDynamics to develop its existing and new products, technological advances and patents attained by competitors, infringement of AngioDynamics' technology or assertions that AngioDynamics' technology infringes the technology of third parties, the ability of AngioDynamics to effectively compete against competitors that have substantially greater resources, future actions by the FDA or other regulatory agencies, domestic and foreign health care reforms and government regulations, results of pending or future clinical trials, overall economic conditions, the results of on-going litigation, challenges with respect to third-party distributors or joint venture partners or collaborators, the results of sales efforts, the effects of product recalls and product liability claims, changes in key personnel, the ability of AngioDynamics to execute on strategic initiatives, the effects of economic, credit and capital market conditions, general market conditions, market acceptance, foreign currency exchange rate fluctuations, the effects on pricing from group purchasing organizations and competition, the ability of AngioDynamics to integrate purchased businesses, as well as the risk factors listed from time to time in AngioDynamics' SEC filings, including but not limited to its Annual Report on Form 10-K for the year ended May 31, 2016 and its quarterly report on Form 10-Q for the fiscal periods ended August 31, 2016, November 30, 2016 and February 28, 2017. AngioDynamics does not assume any obligation to publicly update or revise any forward-looking statements for any reason.
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