Retractable Technologies, Inc. (NYSE MKT: RVP) (“RTI”) announced that on
April 23, 2015, the United States District Court for the Eastern
District of Texas, Marshall Division, entered an Amended Final Judgment
in RTI’s suit against Becton, Dickinson and Company (“BD”) for antitrust
and other claims.
The Amended Final Judgment states:
1. BD attempted to monopolize the safety syringe market.
2. BD committed false advertising under the Lanham Act.
3. RTI recovers from BD $340,524,042.00.
4. RTI recovers from BD its attorneys’ fees in the amount of
$11,722,823.20.
5. RTI is further awarded post-judgment interest and costs.
6. The Court GRANTS injunctive relief consistent with its prior
orders.
On April 24, 2015, BD filed a Notice of Appeal announcing its appeal of
the Amended Final Judgment and various other post-trial and post
judgment orders to the United States Court of Appeals for the Fifth
Circuit.
RTI 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. RTI’s products are distributed by various specialty and
general line distributors.
For more information on RTI, 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 and future Court decisions
regarding 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
impact 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 RTI's periodic
reports filed with the U.S. Securities and Exchange Commission.
Copyright Business Wire 2015