The Traderszone Network

Published in TZ Latest News 21 January, 2015 by The TZ Newswire Staff

Johnson & Johnson’s $7.2 billion claim against Boston Scientific now with U.S. judge

For more than eight years, Johnson & Johnson (JNJ.N) has pursued billions of dollars in damages against Boston Scientific Corp (BSX.N) after the latter won a controversial – and ultimately ill-fated – bidding war for device maker Guidant. J&J is seeking more than $7.2 billion in damages and interest from Boston Scientific as Guidant’s successor, an amount that one analyst has characterized as a “major near-term risk” for a company with a market capitalization of about $19 billion as of Wednesday. U.S. District Judge Richard Sullivan, who oversaw the trial, did not indicate when he would rule.

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