Medtronic Pays Hefty Sum to Abbott to End Stent Suit

Medtronic and Abbott have agreed not to sue each other over stent technology, thanks to Medtronic's offer to pay $400 million to Abbott. The settlement resolves all outstanding intellectual property litigation between the two medical device makers, who agreed not to sue each other again in the area of coronary stent and stent delivery systems for at least 10 years. Medtronic said it will also pay $42 million to evYsio Medical Devices as part of a sublicense to Abbott of evYsio's stent design. Medtronic expects to report a special charge against its first-quarter financial results for the settlement with Abbott.