Conor MedSystems, the stent maker Johnson & Johnson acquired in 2007, must face a $100 million Biotronik breach-of-contract lawsuit, a New York state appeals court rules. Johnson & Johnson (NYSE:JNJ) subsidiary Conor MedSystems can’t slip a $100 million breach of contract lawsuit filed by former European distribution partner Biotronik, a New York state appeals court ruled last week. Biotronik accused Conor of issuing a sham recall of its drug-eluting CoStar coronary stent and spiking a distribution deal that cost Biotronik $100 million, alleging that Conor reneged on a supply contract for its CoStar stent, which Conor recalled in 2007 after it fared badly in a clinical comparison with Boston Scientific’s (NYSE:BSX) Taxus drug-eluting stent. But the recall was a sham aimed at eliminating a competitor to J&J’s Cordis Cypher stent in Europe, Biotronik alleged.
Help employers find you! Check out all the jobs and post your resume.
