VISX Responds to FTC Administrative Proceeding
SANTA CLARA, Calif.--(BW HealthWire)--March 24, 1998--VISX, Inc. (NASDAQ:VISX) today acknowledged that the Federal Trade Commission
("FTC") has initiated administrative proceedings against VISX and Summit Technology, Inc. ("Summit").
The FTC complaint seeks to dissolve Pillar Point Partners, a partnership that holds patent rights relating to laser ophthalmic surgery licensed by VISX and Summit in 1992. The complaint charges that VISX and Summit have fixed prices, and also challenges the enforceability of certain patents licensed by VISX to Pillar Point.
VISX strenuously denies the price fixing and other allegations. Since first receiving approval to sell its product from the Food and Drug Administration, VISX has competed aggressively with Summit, and charges different prices for equipment and procedures.
Mark Logan, VISX's Chairman and Chief Executive Officer, stated: "We worked hard to resolve the Pillar Point issues by mutual consent. We are disappointed that the Commission decided to commence administrative proceedings while discussions were ongoing. Nevertheless, we intend to continue our efforts to resolve the Pillar Point matter by means other than administrative litigation. In fact, on February 17th, VISX sued in California Superior Court to dissolve the partnership. As part of that lawsuit, VISX is seeking many of the remedies the FTC has requested in its complaint."
With respect to the patent issue, Mr. Logan continued, "We are puzzled by the challenge to VISX's patents by the FTC. The complaint challenges the 1990 resolution of complicated patent interference proceedings and asserts that certain documents were not cited to the U.S. Patent and Trademark Office ("PTO") as prior art. Those claims are unfounded. The interferences were resolved in full compliance with PTO procedures, with the advice of the country's foremost experts on interference proceedings, and VISX is confident that its fundamental patents cite all prior art relevant to the invention. Finally, as the FTC has stated, the issuance of a complaint is not a finding or ruling that any law has been violated. VISX will continue to work with the FTC to address their concerns."
CONTACT:
VISX, Inc.
Lola Wood, 408/733-2020
ir@visx.com
visx.com
KEYWORD: CALIFORNIA
BW0227 MAR 24,1998
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