MOUNTAIN VIEW, Calif., Feb. 7, 2012 (GLOBE NEWSWIRE) -- Conceptus, Inc. (Nasdaq:CPTS), developer of the Essure® procedure, the leading non-surgical permanent birth control method, announced today that it intends to file an appeal to overturn the court's ruling denying Conceptus' motion for permanent injunction against Hologic Inc.'s Adiana system. In addition, Hologic has today filed an appeal of the jury's patent validity and infringement verdict.
Conceptus also noted that it maintains the right to file a separate lawsuit at any time for supplemental, post-judgment damages for Hologic's infringement on Conceptus' patent rights, which may include lost profits in addition to the $18.8 million already awarded by the jury, royalty payments and interest from July 2011 through the trial of such lawsuit. Only the timing of such lawsuit will likely be impacted by these appeals.
"We enjoyed a significant victory when the jury found that Hologic infringed our patent and the patent is valid. We are confident that the appeal process will find the jury's verdict was correct, and we will continue to vigorously defend our intellectual property," said Julie Brooks, executive vice president and general counsel of Conceptus.
"Given the jury decision, we believe it is entirely appropriate that the court enjoin Hologic from selling its Adiana system. In addition, we plan to bring our case for post-judgment supplemental damages and are evaluating the best time to do so," said Ms. Brooks. "There's been a misunderstanding in the market that Hologic does not owe us royalties for its continuing infringement of our patent. On the contrary – the judge was very clear that we may pursue additional damages at any time. We plan to take full advantage of that right."
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 court's decision in granting a permanent injunction against the competitive product, and our success in obtaining an award of supplemental damages in trial. 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 and Public Relations Contact: Cindy Klimstra (650) 962-4032 email@example.com
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