Tue, Jul 29, 2014, 9:34 AM EDT - U.S. Markets close in 6 hrs 26 mins

Recent

% | $
Click the to save as a favorite.

NuVasive, Inc. (NUVA) Message Board

  • greg_m_thornton greg_m_thornton Jan 25, 2012 4:24 PM Flag

    No real decision. Court delays...

    Court Denies Medtronic, NuVasive Motions Ahead of Hearing Thu
    17 minutes ago - Dow Jones News


    By Anjali Athavaley
    Of DOW JONES NEWSWIRES

    NEW YORK (Dow Jones)--A federal court has denied motions for judgment from medical device makers Medtronic Inc. (MDT) and NuVasive Inc. (NUVA) ahead of a hearing Thursday.
    Last September, NuVasive said a jury awarded Medtronic $101.2 million in damages after ruling that NuVasive infringed on three spinal-implant patents. The court on Thursday is scheduled to hear arguments relating to Medtronic's request for a permanent injunction and NuVasive's request that the court reject the jury verdict.
    The decisions on Wednesday were issued by the United States District Court for the Southern District of California. The court denials Wednesday are tentative, ahead of the Thursday hearing.
    NuVasive shares rose 19%, to $16.30 on the news. The possibility of an injunction has hurt NuVasive's shares in recent months.
    Rick Wise, an analyst at Leerink Swann, said in a note early Wednesday that an "injunction seems like a less likely outcome," but he noted that NuVasive will likely still have to pay royalties.
    NuVasive reported a third-quarter loss of $67.6 million on expenses related to the patent case.
    NuVasive and Medtronic didn't immediately respond to requests for comment.

    -By Anjali Athavaley, Dow Jones Newswires; 212-416-4912; anjali.athavaley@dowjones.com

    (END) Dow Jones Newswires
    01-25-12 1604ET
    Copyright (c) 2012 Dow Jones & Company, Inc.

 
NUVA
35.61+0.52(+1.48%)9:31 AMEDT

Trending Tickers

i
Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.