Medical device maker Smith & Nephew said Tuesday that it will be able to keep selling its Renasys-F wound dressing kit in the U.S. after a district court ruled the product does not infringe on patents held by rival Kinetic Concepts Inc.
London-based Smith & Nephew said the U.S. District Court for the Western District of Texas overturned a jury verdict handed down in March. Renasys-F is a foam kit that is designed to be used with negative pressure wound therapy products, or devices that are designed to speed up the healing process by exposing injuries to low air pressure. Both companies make negative pressure wound treatments, and San Antonio, Texas-based Kinetic Concepts had said Renasys-F infringed on two of its patents.
The news sent Kinetic Concepts shares tumbling $3.24, or 8.5 percent, to $34.86 in midday trading.
Smith & Nephew shares fell 73 cents to $43.46 as the broader markets also fell.