Angiotech, J&J Settle Paclitaxel Stent Patent Litigation


September 18, 2007

September 18, 2007 - Angiotech Pharmaceuticals Inc. announced that it reached a favorable agreement with Johnson & Johnson’s subsidiary, Conor Medsystems ("Conor") to settle all outstanding patent litigation with respect to Conor's CoStar paclitaxel stent.

"With this agreement now in place, Angiotech expects that the resources required to defend and enforce our intellectual property should decrease," said Dr. William Hunter, president and CEO of Angiotech.

At the time of the settlement, there was ongoing litigation in three jurisdictions: the UK, the Netherlands and Australia.

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