Insulet, Medtronic settle lawsuit
BEDFORD, Mass. – Insulet has reached a settlement with Medtronic MiniMed in a pending lawsuit over patent infringement, according to a Sept. 25 news release. Medtronic MiniMed had filed the lawsuit against Insulet. The settlement allows for a cross-license of certain patent claims and includes an agreement by the companies not to sue each other for patent infringement related to existing products or any of their features. “This agreement allows us to maintain our focus on the launch of the new OmniPod,” stated Duane DeSisto, president and CEO of Insulet, in the release. “In addition, the agreement provides us significant freedom to continue developing the products in our pipeline.” Insulet said legal fees and a one-time cash payment to Medtronic are expected to cost the company $10 million.