By Dow Jones Business News, September 20, 2013, 09:08:00 AM EDT
By Nathalie Tadena
A jury has awarded Retractable Technologies Inc. ( RVP ) $113.5 million in a case against medical-device maker Becton
Dickinson & Co. ( BDX ) tied to alleged anticompetitive conduct in the safety syringe market.
After a six-year battle, a jury in a Texas federal court found Becton Dickinson engaged in anticompetitive conduct to
acquire or maintain monopoly power in the safety syringe market and engaged in false advertising under the Lanham Act.
"We're disappointed with the portion of the verdict that favored [Retractable], and we believe this aspect of the
verdict was erroneous," Becton General Counsel Jeffrey S. Sherman said. "We will file an appeal at the earliest
Becton plans to record a charge of $211 million, or $1.06 a share, in the fiscal fourth quarter in connection with the
verdict. Excluding the charge, Becton reaffirmed its guidance.
Becton said the jury rejected Retractable's monopolization claims in the markets for safety syringes, conventional
syringes and safety IV catheters; its attempted monopolization claims in the markets for conventional syringes and
safety IV catheters; and its claims for contractual restraint of trade and exclusive dealing.
Becton Dickinson's products range from syringes and intravenous catheters to specimen-collection systems and reagents
that detect infectious diseases. The company's revenue performance has been mixed in recent quarters as an uncertain
global economy pressured sales.
Retractable manufactures and markets VanisPoint and Patient Safe safety medical products.
Becton shares closed Thursday at $102.87 and was inactive premarket. Retractable closed at $1.80 Thursday, and was up
to $4.35 in premarket trading Friday.
Write to Nathalie Tadena at email@example.com
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