St. Jude Medical gets $2.3B in trade secrets case

AP News
|
Posted: Apr 26, 2011 10:15 AM
St. Jude Medical gets $2.3B in trade secrets case

St. Jude Medical Inc. said Tuesday a Los Angeles jury awarded it $2.3 billion in a lawsuit against a former employee of its heart device business and a Chinese company he founded.

The company had said Yongning Zou stole trade secrets from the Pacesetter cardiac rhythm device unit, and tried to use those secrets to set up his own company, Nervicon Co. St. Jude said the jury returned a $1.47 billion judgment against Zou and an $868 million judgment against Nervicon on Friday.

St. Jude said the court had issued an injunction against Zou and Nervicon to prevent them from using or disclosing any trade secrets or confidential or proprietary information from St. Jude. The injunction was issued in November.

St. Jude is one of the world's largest medical device companies, and products like pacemakers and implantable heart defibrillators bring in more than half its revenue. The company reported $3.05 billion in cardiac rhythm device sales in 2010.