J&J; Sues Abbott, Boston Scientific on Guidant Bid

Johnson & Johnson has sued Boston Scientific Corp. and Abbott Laboratories Inc., seeking at least $5.5 billion in damages related to J&J;’s failed bid for medical device maker Guidant Corp.

The lawsuit alleges that Guidant leaked confidential information to Abbott. J&J; claims that was a “material breach of the terms of Guidant’s merger agreement with J&J;” and ultimately led to Boston Scientific’s winning the battle to acquire Guidant for $27 billion.

An Abbott spokeswoman said the lawsuit, filed in U.S. District Court in New York, was without merit.