ResMed amends US trade complaint against F&P Healthcare, other actions still proceeding
The withdrawal doesn't affect other patent litigation between the companies, F&P Healthcare said.
ResMed has withdrawn its complaint against Fisher & Paykel Healthcare in the US International Trade Commission but plans to replace it with a new action and is still pursuing its patent dispute with the New Zealand maker of breathing masks in several other jurisdictions.
The Auckland-based company has been told ResMed filed an unopposed motion to terminate the investigation after withdrawing its complaint in the US trade agency while indicating it plans to file a new complaint, F&P Healthcare said in a statement. The withdrawal doesn't affect other patent litigation between the companies, F&P Healthcare said.
"We are pleased with today's developments. As we said when these proceedings commenced in August last year we are confident in our intellectual property position," F&P Healthcare chief executive Lewis Gradon said. "Should ResMed request that the ITC conduct another investigation, we will vigorously contest this and we remain confident in regards to future proceedings."
The action is one of several where the breathing mask makers are at odds over their intellectual property in Germany, New Zealand, the UK and the US district court, and could block F&P Healthcare imports to the US if excluded by the commission.
F&P Healthcare shares rose 2.4 percent to $10.25 and have gained 17 percent so far this year. Investors have been treating the stock as a proxy for exposure to the US, where the company derives half of its revenue and where the Trump administration is taking a hardline stance on America's trade relationship with Mexico. F&P Healthcare has major manufacturing facilities in Mexico.
(BusinessDesk)
Paul McBeth
Wed, 17 May 2017
Wed, 17 May 2017
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ResMed amends US trade complaint against F&P Healthcare, other actions still proceeding
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