Ev3 settles dispute with UC over coils
From Times Wire Services
Ev3 Inc. has agreed to pay $15.4 million to settle a dispute with Boston Scientific Corp. and the University of California in the U.S. and Europe over coil devices to prevent strokes.
Ev3, of Plymouth, Minn., said it would pay $3.7 million to Boston Scientific and $11.7 million to the university. It won’t be required to pay future royalties or stop selling existing products, Ev3 said.
Boston Scientific and the university sued Micro Therapeutics, now owned by Ev3, in 2003 over coils that are used to fill the ballooned area of an aneurysm.
