MOUNTAIN VIEW, Calif., Jan. 9, 2012 (GLOBE NEWSWIRE) -- Conceptus, Inc. (Nasdaq:CPTS),developer of the Essure® procedure, the leading non-surgical permanent birth control method, announced today that Judge William Alsup of the United States District Court, Northern District of California, denied Hologic Inc.'s motions seeking to overturn the jury's verdict that the use of Hologic's Adiana System infringed on Conceptus' patent rights. While the court denied the Conceptus motion for permanent injunction, which sought to permanently enjoin Hologic from selling its Adiana system in the United States and denied Conceptus' request for supplemental damages, it specifically noted that Conceptus is entitled to file a supplemental complaint seeking damages since June 30, 2011.
The decision stems from a jury verdict on October 17, 2011, in which the jury found that the use of Hologic's Adiana system infringed on claims of Conceptus' U.S. Patent Number 6,634,361 related to the Essure procedure. The jury awarded Conceptus $18.8 million in monetary lost profit damages based on Adiana sales through June 30, 2011.
"While the judge did not grant our motion for a permanent injunction against our competitor's product, the court's decision today reaffirms the jury's verdict and represents the next step in the process to finalize damages in connection with the jury finding that Hologic infringed on Conceptus' patent," said D. Keith Grossman, president and chief executive officer of Conceptus. "We are currently evaluating our options, including filing a supplemental complaint to seek lost profits."
"Conceptus pioneered the hysteroscopic sterilization market more than a decade ago when the Company developed and began marketing the Essure procedure. Today, Essure is the leading hysteroscopic sterilization procedure, as well as the most effective permanent birth control method available," said Mr. Grossman. "We believe the U.S. market for hysteroscopic sterilization procedures represents an underpenetrated opportunity of more than $1 billion annually. We are focused on making Essure the standard of care for permanent birth control, so all women can achieve highly reliable permanent birth control without the risks, trauma and recovery time associated with surgical tubal ligation."
About the Essure® Procedure
The Essure procedure, FDA approved since 2002, is the first permanent birth control method that can be performed in the comfort of a physician's office in less than 10 minutes (average hysteroscopic time) without hormones, cutting, burning or the risks associated with general anesthesia or tubal ligation. Soft, flexible inserts are placed in a woman's fallopian tubes through the cervix without incisions. Over the next three months, the body forms a natural barrier around and through the inserts to prevent sperm from reaching the egg. Three months after the Essure procedure, a doctor is able to perform an Essure Confirmation Test to confirm that the inserts are properly placed and that the fallopian tubes are fully blocked, allowing the patient to rely upon Essure for permanent birth control.
The Essure procedure is 99.95% effective based on one year of follow up with zero pregnancies reported in clinical trials, making it the most effective form of permanent birth control on the market. The procedure is covered by most insurance plans, and when it is performed in a doctor's office the cost to the patient may be as low as a simple co-pay. Essure has been proven and trusted by physicians since 2002, with more than 570,000 women worldwide having undergone the Essure procedure.
About Conceptus®, Inc.
Conceptus, Inc. is a leader in the design, development and marketing of innovative solutions in women's healthcare. The Company manufactures and markets the Essure procedure. The Essure procedure is available in the United States, Europe, Australia, New Zealand, Canada, Mexico, Central and South America and the Middle East.
Please visit www.essure.com for more information on the Essure procedure. Patients may call the Essure Information Center at 1-877-ESSURE-1 with questions or to find a physician in their area.
The Conceptus, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7961
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, the accuracy of which is subject to known and unknown risks and uncertainties. These forward-looking statements include, without limitation, discussions regarding evaluating our options on litigation results, the size of the U.S. market for hysteroscopic sterilization, market expansion and our ability to market effectively to physicians and prospective patients, regulatory approval of our marketing claims, increasing the adoption of Essure and new management's achievement of the Company's goals. These discussions and other forward-looking statements included herein may differ significantly from actual results. Such differences may be based upon factors such as changes in strategic planning decisions by management, re-allocation of internal resources, changes in the impact of domestic and global macroeconomic pressures, reimbursement decisions by insurance companies and domestic and foreign governments, scientific advances by third parties, litigation risks, attempts to repeal all or part of the Patient Protection and Affordable Care Act of 2010, and the introduction of competitive products, as well as those factors set forth in the Company's most recent Annual Report on Form 10-K and most recent Quarterly Report on Form 10-Q, and other filings with the Securities and Exchange Commission. These forward-looking statements speak only as to the date on which the statements were made. The Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events, or otherwise.
© 2012 Conceptus, Inc.—All rights reserved.
CONTACT: Investor Relations and Public Relations Contact: Cindy Klimstra (650) 962-4032 firstname.lastname@example.org
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