LAWSUITS NEWS & LEGAL INFORMATION
Johnson & Johnson
This is a settlement for the Antitrust lawsuit.
Syracuse, NY: (Apr-05-07) Conmed Corp. filed suit against New Jersey-based Johnson & Johnson in federal court in 2003, alleging that Johnson & Johnson was bullying hospitals into purchasing its products. The suit also alleged it was illegally using its monopoly as a maker of sutures to force hospitals to buy its surgical products, resulting in higher prices to consumers and the exclusion of competition. The company contended that Johnson & Johnson's tactics allowed it to unfairly corner 60 percent of the $1 billion market for endoscopy devices used by doctors in minimally invasive surgery, which involves small incisions. In a settlement reached, Conmed agreed to drop antitrust charges against Johnson & Johnson for a cash settlement of $11 million.
[BUSINESS WEEK: ENDOSCOPY ANTITRUST]
Published on Apr-10-07
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