Boston Scientific calls J&J suit meritless
Sep. 26, 2006

Boston Scientific said Tuesday afternoon that a suit filed Monday against the company by Johnson & Johnson for reportedly $5.5 billion over Boston Scientific's merger with Guidant is "meritless." In the suit, J&J accuses Boston Scientific and Abbott Laboratories of "inducing" Guidant to breach its merger agreement with J&J. Boston Scientific outbid J&J for Guidant, with some financing being provided by Abbott. The Boston Scientific Guidant merger closed in April. "We find it curious that J&J has chosen to sue eight months after Boston Scientific entered into a definitive agreement with Guidant, and five months after the transaction closed," wrote Boston Scientific spokesman Paul Donovan, in a statement. "Throughout this process, we complied with all the terms of the J&J/Guidant merger agreement. We believe the suit is meritless, and we expect to demonstrate that in court," Donovan added.

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