Covidien Launches Improved Magellan Safety Hypodermic Needle
MANSFIELD, Mass.--(BUSINESS WIRE)--Covidien (NYSE: COV; BSX: COV), a leading global provider of healthcare products, today announced that it is launching a new and improved Magellan™ Safety Hypodermic Needle. The development of the new design, which gives clinicians more control and smoother activation of the safety shield, reflects Covidien's continued commitment to improving healthcare worker safety.
"We are transitioning to the new and improved Magellan Safety Needle technology as part of our strong and ongoing commitment to meeting the safety needs of our customers," said Jeff Hunt, President, Patient Care and Safety Products, Covidien. "As you may know, there is litigation under way related to the current Magellan Safety Needle technology used on our Magellan family of products. We are optimistic that the litigation will ultimately be resolved in our favor," Hunt added.
Covidien also announced that it has appealed a U.S. District Court jury finding in November 2007 that Covidien's current Magellan Safety Needle products infringed one of Becton Dickinson's patents and a subsequent judge's ruling granting Becton Dickinson's request for an injunction against Covidien's current Magellan Safety Needle product line. The injunction is scheduled to take effect on December 17, 2008. Over the next several weeks, Covidien will transition from its current line to its new and improved Safety Needle products.
"While we respect the judge's recent ruling in this matter, we believe our current product line does not infringe on Becton Dickinson's intellectual property," Hunt said. "Our number one priority is to ensure that our customers receive the very best in needle safety protection. We will continue to provide the best solutions in healthcare worker protection as we seamlessly transition to the new and improved Magellan Safety Needles."
Net sales of the Magellan product line were less than $35 million in fiscal 2008.
ABOUT COVIDIEN
Covidien is a leading global healthcare products company that creates innovative medical solutions for better patient outcomes and delivers value through clinical leadership and excellence. Covidien manufactures, distributes and services a diverse range of industry-leading product lines in four segments: Medical Devices, Imaging Solutions, Pharmaceutical Products and Medical Supplies. With 2008 revenue of nearly $10 billion, Covidien has more than 41,000 employees worldwide in 59 countries, and its products are sold in over 140 countries. Please visit www.covidien.com to learn more about our business.
Copyright 2008 Business Wire All Rights Reserved.