Globus Medical Achieves Significant Legal Victory Over Life Spine
Globus Medical's Legal Triumph
In a significant development in intellectual property protection, Globus Medical, Inc. (NYSE: GMED), a leader in musculoskeletal technology, has celebrated a jury verdict in Delaware that favors the company in its ongoing patent infringement litigation against Life Spine, Inc.
The Verdict's Implications
The recent jury decision concluded that Life Spine's Prolift system infringed several claims of a valid patent owned by Globus. This outcome awarded the company not only lost profits but also reasonable royalty damages. The patented technology relates to expandable spinal fusion implants—a crucial innovation that significantly enhances patient outcomes during spinal surgeries.
Statements from Leadership
In light of the ruling, Keith Pfeil, President and CEO of Globus Medical, expressed his satisfaction, stating, "We are pleased with the jury's decision, which affirms the strength of our intellectual property and the groundbreaking innovation behind our expandable implant technologies. This verdict underscores Globus's place as a leading innovator in the musculoskeletal field."
Ongoing Legal Challenges
This case isn't the only litigation on Globus's radar. The company is simultaneously involved in a separate patent infringement lawsuit against Alphatec, Inc., focusing on similar expandable implant and retractor technologies. Commitment to safeguarding intellectual properties remains a key priority for Globus as it continues innovating for the benefit of patients worldwide.
Commitment to Innovation and Patient Care
Kelly Huller, Executive Vice President and General Counsel, also emphasized the company’s dedication to research and development. "We invest in R&D to bring transformative solutions to patients globally. We will not hesitate to enforce our patent rights against those who attempt to use our technology without authorization," she added. This commitment highlights Globus Medical's focus on not just innovation, but also on ensuring their advancements reach patients who need them most.
About Globus Medical, Inc.
Globus Medical, Inc. is a prominent global player in the musculoskeletal industry, devoting its efforts to addressing unmet clinical needs and enhancing patient lives through innovative technology. The company prioritizes inspired urgency in its work, delivering world-class education and support while advancing care across spine, orthopedic trauma, joint reconstruction, biomaterials, and enabling technologies.
Frequently Asked Questions
1. What was the outcome of the jury verdict?
Globus Medical won the jury verdict, confirming that Life Spine infringed on its patent, resulting in awarded damages.
2. What technology was involved in the patent dispute?
The case involved technology related to expandable spinal fusion implants, crucial for improving surgical outcomes.
3. Who is Globus Medical's CEO?
Keith Pfeil serves as the President and CEO of Globus Medical, emphasizing the company's innovative focus.
4. Is Globus involved in other legal cases?
Yes, Globus Medical is engaged in another patent infringement litigation against Alphatec, Inc.
5. What does Globus Medical emphasize in its corporate mission?
Globus Medical focuses on innovation to solve clinical needs and improve patient care worldwide.
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