AngioDynamics Settles Patent Lawsuits with BD’s Bard

AngioDynamics has entered a settlement agreement with BD (Becton, Dickinson and Company) to resolve all outstanding patent litigation with C.R. Bard, an affiliate of BD.
 
Under the settlement’s terms, BD will grant a license to AngioDynamics under certain of BD’s port patents. AngioDynamics will also grant BD a license under certain of its catheter patents.
 
AngioDynamics will make a one-time, lump sum $7 million payment to BD. $3 million of this will be paid within five days and the balance will be payable in installments over the next year.
 
AngioDynamics will also make six minimum $2.5 million payments to BD through February 2029, with potential additional payments if 6% of annual net sales of AngioDynamics’ port products exceed the minimum payment. The parties will participate in the pending appeal before the Federal Circuit of the case titled C.R. Bard, Inc. and Bard Peripheral Vascular, Inc. v. AngioDynamics, Inc. (C.A. 15-00218–JFB; and CAFC appeal No. 23-2056) and a contingent payment of $3 million will be due from AngioDynamics to BD if the Federal Circuit reverses or vacates the District Court’s findings of invalidity with respect to the patent claims at issue the case.
 
The agreement contains mutual covenants not to sue and releases. Neither party admitted any liability in connection with the settlement agreement. The agreement concludes a multi-year patent dispute between the parties.
 
“We are pleased to bring this long-standing litigation to a successful conclusion that will reduce our ongoing legal spend and lift a more than ten-year distraction to the Company,” said Jim Clemmer, president and CEO of AngioDynamics. “The settlement essentially allows us to spread what would have been two years of future legal fees over the course of six years. Today’s settlement also provides us with additional clarity and certainty and enables our team to remain focused on our top priorities—driving innovation and profitable growth in attractive end markets and delivering value to our shareholders.”