Boston Scientific settles $7.2B lawsuit brought by Johnson & Johnson for $600M

February 17, 2015 10:11 PM

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Boston Scientific settles $7.2B lawsuit brought by Johnson & Johnson for $600M

Shares of the Marlborough-based medical device giant (NYSE: BSX) were up 8 percent in after hour trading on the news, which brings closure to litigation which has been hanging over its head since its 2006 acquisition of Guidant.

J&J (NYSE: JNJ) claimed in the lawsuit that Guidant, for which Boston Scientific paid $27 billion, broke the terms of an earlier contract to be acquired by J&J by providing information to BSX. The New Jersey company claimed its damages from the failed merger were $4.35 billion plus interest, for a t...

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