Medtronic will pay $400 million to Abbott Laboratories to settle all outstanding intellectual property litigation over the companies’ coronary stents and delivery systems.
Under the deal, the companies agree not to sue each other over stent technology for at least 10 years. Stents are tiny mesh tubes designed to prop open arteries.
Medtronic said in its statement that it expects to report in the first quarter a special charge related to the settlement. The settlement ends all I.P. litigation relating to the company’s bare metal and drug-coated stents.