Smith & Nephew Receives $99 Mln Payment From Arthrex For Patent Infringement

(RTTNews) - Smith & Nephew (SNN, SN.L) announced it has received payment in connection with the recent affirmation by the U.S. Court of Appeals for the Federal Circuit of a $95 million patent infringement judgment against Arthrex, Inc. The patent pertains to fundamental technology used to implant suture anchors to surgically reattach soft tissue to bone.

Smith & Nephew said Arthrex paid $99 million in satisfaction of the judgment, which includes $4 million in costs and interest payments. Net of various expenses, Smith & Nephew expects to recognize more than half of this amount in its second-quarter trading report.