Boston Scientific to pay J&J $600 million to settle Guidant suit

February 17, 2015 10:59 PM

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(Reuters) - Medical device maker Boston Scientific Corp on Tuesday said it has agreed to pay $600 million to Johnson & Johnson to settle a long-running lawsuit over Boston Scientific's 2005 acquisition of rival Guidant.

J&J had sought more than $7 billion in damages after it lost a bidding war to Boston Scientific following an initial deal to buy Guidant for $21.5 billion in 2005. J&J accused Guidant of breaking that deal.

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