Retractable Technologies, Inc. (“Retractable”) (AMEX: RVP), a leading maker of safety needle devices, announced today that a Tyler, Texas jury returned a verdict on Friday, December 18th in the litigation of Retractable Technologies, Inc. v. OMI (Occupational & Medical Innovations Limited, an Australian public company,) in favor of Retractable on all claims presented to the jury.
The jury found that OMI’s Auto-Retractable Safety Syringe infringed all the asserted claims under patent 6,572,584 (“the ‘584 patent”), OMI was directed to pay Retractable $1,571,103 for such infringement and found that Retractable’s ‘584 patent is valid and enforceable. In addition, the jury found that OMI misappropriated trade secret information and was directed to pay Retractable $2,240,640 in damages.
Retractable will seek the entry of an immediate injunction against any further infringement. Issuance of an injunction is a matter for the Court but the Company is informed by counsel that all relevant legal factors weigh in favor of injunctive relief in this case.
Retractable manufactures and markets safety medical products, principally VanishPoint® automated retraction safety syringes and blood collection devices, that virtually eliminate healthcare worker exposure to accidental needlestick injuries. These revolutionary devices use a patented friction ring mechanism that causes the contaminated needle to retract automatically, a feature that is designed to prevent both accidental needlestick injury and device reuse. Retractable also manufactures and markets Patient Safe™ syringes that are uniquely designed to reduce the risk of bloodstream infections resulting from catheter hub contamination. Retractable’s products are distributed by various specialty and general line distributors. For more information on Retractable, visit our website at www.vanishpoint.com.