St. Jude, Device Maker Settle Royalty Dispute (STJ, KNSY)

Health and Healthcare

Published: March 19, 2012 10:58 am

St. Jude Medical Inc. (NYSE: STJ) has settled a royalty dispute with medical device maker Kensey Nash Corp. (NASDAQ: KNSY) over a device that St. Jude licensed from Kensey in 1999. The settlement amount is $39 million to be paid to Kensey in 12 quarterly installments beginning March 31st.

Shares in St. Jude Medical are down about -1% at $42.42 in a 52-week range of $32.13-$54.18. Kensey Nash shares are up more than 21% at $29.80 after posting a new 52-week high of $30.39 earlier this morning.

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