Court Upholds Ruling in Applied Biosystems/MDS Sciex Patent Suit Against Micromass
Wednesday March 12, 12:03 pm ET
FOSTER CITY, Calif. & TORONTO--(BUSINESS WIRE)--March 12, 2003--Applied Biosystems Group (NYSE:ABI - News), an Applera Corporation business, and MDS Inc. (TSE:MDS - News; NYSE:MDZ - News), together with their Applied Biosystems/MDS Sciex Instruments partnership, today announced that the U.S. Court of Appeals for the Federal Circuit upheld the judgment of the U.S. Court for the District of Delaware ruling in favor of Applied Biosystems and MDS Inc. in a patent infringement lawsuit against Micromass U.K. Ltd. and its U.S. subsidiary, Micromass, Inc., both divisions of Waters Corporation. Micromass was found to infringe U.S. Patent No. 4,963,736. The patent covers technology for triple quadrupole mass spectrometers. The court upheld both the injunction previously granted against the sale of infringing Micromass mass spectrometers and the damage award of $52.6 million to Applied Biosystems and MDS Inc. The damages will be enhanced to include post-judgment interest.
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"We are pleased that the court has upheld the original ruling," said Michael W. Hunkapiller, Ph.D., President of Applied Biosystems. "Our leadership in this technology area is the result of significant research and development investments over the last decade."
"Our scientific leadership in the area of analytical instruments is reinforced by this ruling," said John Rogers, President and CEO of MDS Inc. "We make significant investments in research and development and are pleased that the technologies we develop are well protected."
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Waters stock drops after division loses patent case
Wednesday March 12, 1:09 pm ET
NEW YORK, March 12 (Reuters) - Shares of Waters Corp. (NYSE:WAT - News) fell as much as 9 percent on Wednesday after a UK-based unit lost a patent infringement lawsuit brought by rival Applied Biosystems Group.
Both companies make equipment for drug research.
The U.S. Court of Appeals for the Federal Circuit upheld a ruling by the U.S. Court for the District of Delaware that Micromass U.K. Ltd. and its U.S. subsidiary, Micromass Inc., infringed a patent held by Applied Biosystems and MDS Inc. (NYSE:MDZ - News; Toronto:MDS.TO - News) over technology for a mass spectrometer, an instrument that analyzes molecules.
The court ruled that Micromass may not sell mass spectrometers that infringe the patent and must pay $52.6 million to Applied Biosystems and MDS in damages.
Shares of Milford, Massachusetts-based Waters fell $1.59, or 7.3 percent, to $20.26 in midday trading on the New York Stock Exchange (News - Websites).
Applied Biosystems shares fell 31 cents, or 2 percent, to $16.48, while Toronto-based MDS declined 7 cents to $13.40. |
