St. Jude, Device Maker Settle Royalty Dispute (STJ, KNSY)
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…
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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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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
