Retractable Technologies, Inc. (NYSE MKT: RVP), (“RTI”) announced today
that Judge Leonard Davis of the United States District Court for the
Eastern District of Texas issued an order on September 30, 2014 denying
Becton, Dickinson and Company’s (“BD”) Renewed Motion for Judgment as a
Matter of Law, or Alternatively, for New Trial or Remittitur, ruling
that there was sufficient evidence for the jury to: find that BD had
attempted to monopolize the safety syringe market, find that BD had
engaged in false advertising under the Lanham Act, and award Retractable
$113,508,014 in antitrust damages. Pursuant to federal
statute, antitrust damages are subject to being trebled.
The conclusion of the Court’s Order stated: “The jury’s verdict in this
case was reasonable and supported by substantial evidence. Judgment as a
matter of law is inappropriate because BD has failed to show that a
reasonable jury would not have a legally sufficient evidentiary basis to
find for RTI on the issues set forth above. A new trial is inappropriate
because BD has failed to show that the jury’s verdict was against the
weight of the evidence, the damages awarded were excessive, or that the
trial was unfair or prejudicial error was committed in its course.
Finally, remittitur is inappropriate because BD has failed to show that
the damages award in this case exceeds the bounds of a reasonable
recovery. Accordingly, the Motion is DENIED.”
Retractable manufactures and markets VanishPoint® and Patient
Safe® safety medical products. The VanishPoint® syringe,
blood collection, and IV catheter products are designed to prevent
needlestick injuries and product reuse by retracting the needle directly
from the patient, effectively reducing exposure to the contaminated
needle. Patient Safe® syringes are uniquely designed to
reduce the risk of bloodstream infections resulting from catheter hub
contamination. Retractable's products are distributed by various
specialty and general line distributors.
For more information on Retractable, visit our website at www.vanishpoint.com.
Forward-looking statements in this press release are made pursuant to
the safe harbor provision of the Private Securities Litigation Reform
Act of 1995 and reflect our current views with respect to future events.
We believe that the expectations reflected in such forward-looking
statements are accurate. However, we cannot assure you that such
expectations will materialize. Our actual future performance could
differ materially from such statements.
Factors that could cause or contribute to such differences include, but
are not limited to: our ability to maintain liquidity; our maintenance
of patent protection; the impact of current litigation; our ability to
maintain favorable third party manufacturing and supplier arrangements
and relationships; our ability to quickly increase capacity in response
to an increase in demand; our ability to access the market; our ability
to maintain or lower production costs; our ability to continue to
finance research and development as well as operations and expansion of
production; the continuing interest of larger market players,
specifically Becton, Dickinson and Company, in providing devices to the
safety market; and other risks and uncertainties that are detailed from
time to time in Retractable's periodic reports filed with the U.S.
Securities and Exchange Commission.
Copyright Business Wire 2014