Boston Scientific Fined $7.04 Million
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A federal judge fined Boston Scientific Corp. $7.04 million, saying it gained an upper hand over a key medical technology by flouting a 1995 agreement with antitrust enforcers, the Federal Trade Commission said.
The fine is the largest civil penalty imposed for violation of an FTC antitrust order, the FTC said.
U.S. District Judge Patti Saris ruled that Boston Scientific, based in Natick, Mass., had acted in “bad faith” and reneged on an earlier promise to license its intravascular ultrasound catheters to rival Hewlett-Packard Co., the FTC said.
Saris said Boston Scientific had dealt a setback to people with heart disease and left doctors with an “inferior” technology. Boston Scientific spokesman Paul Donovan said the company was considering an appeal.
Boston Scientific shares fell $1.10 to $40.76 on the NYSE.
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