Research Desk Line-up: Cesca Therapeutics Post Earnings Coverage
LONDON, UK / ACCESSWIRE / October 9, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for ResMed Inc. (NYSE: RMD), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=RMD. The Company announced on October 06, 2017, provided an update in the patent infringement case against Fisher & Paykel Healthcare Corp. Ltd being fought in the German Court. The Company announced that the German court has stayed infringement proceedings against Fisher & Paykel to allow ResMed to defend the validity of its patents in the European Patent Office. The German Court announced its decision following an oral hearing held on September 21, 2017. The German Court concluded that Fisher & Paykel's mask models Simplus, Eson, and Eson 2 infringe on ResMed's two European patents. For immediate access to our complimentary reports, including today's coverage, register for free now at:
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Commenting on the development, David Pendarvis, Global General Counsel and Chief Administrative Officer of ResMed, said:
"ResMed will continue to stand against those we believe have unlawfully violated our patents. We have more than 5,000 patents in our portfolio, reflecting three decades and millions of dollars of sustained investment in research and development, focused on ensuring that patients around the world receive the high-quality care they deserve. We're confident, as we've seen in these early rulings, that ResMed will ultimately prevail against Fisher & Paykel."
Status Update on Lawsuits in other Countries
The Company also provided the status of the lawsuits filed against Fisher & Paykel in various other countries on the same matter. ResMed is moving to a trial in UK where Fisher & Paykel has challenged one of three of Resmed's UK patents. The Company has assured that the lawsuit in UK will not have any commercial impact on sales of ResMed's products and is not binding on the European Patent Office or the German Courts.
ResMed has presented key evidence in Australian Courts which defends its patent regarding ResMed masks. Fisher & Paykel have withdrawn their case and agreed to pay requisite court costs to ResMed.
ResMed is also fighting Fisher & Paykel in courts in New Zealand on the same ground and expects the case to move towards trial in late 2018.
The current update is a result of ResMed's filing of patent infringement lawsuits against Fisher & Paykel in the US, Germany, and New Zealand Courts in August 2017. Simultaneously, ResMed had also filed a complaint with the US International Trade Commission. The lawsuits/complaint sought to stop Fisher & Paykel from infringing on its patented technology by stopping sale and import of Fisher & Paykel's Simplus full face mask, Eson nasal mask, and Eson 2 nasal mask. ResMed claimed that Fisher & Paykel's masks infringed on the Company's patents relating to modular mask systems, headgear design, and cushion design.
At that time, the German District Court in Munich had stopped the sale of Simplus, Eson, and Eson 2 masks in Germany in response to the infringement case filed by ResMed, whereas in New Zealand, the Company had sought Auckland Court's help in stopping Fisher & Paykel from manufacturing and exporting the infringed masks from that country.
San Diego, California based ResMed was formed in 1989 with the purpose of commercializing a medical device for treating obstructive sleep apnea (OSA), a major subset of sleep-disordered breathing (SDB). ResMed has grown to become a global leader and award-winning medical devices and cutting-edge cloud-based software applications Company that diagnoses, treats, and manages sleep apnea, chronic obstructive pulmonary disease (COPD), and other chronic diseases. The Company is currently remote monitoring over 3 million patients via connected care daily. The tech-driven medical device Company has a presence in more than 120 countries globally and is supported by a 6,000-strong team.
About Fisher & Paykel Healthcare Corp. Ltd
Auckland, New Zealand based Fisher & Paykel Healthcare is a leading designer, manufacturer, and marketer of products and systems for use in respiratory care, acute care, surgery, and the treatment of obstructive sleep apnea. The Company started its business in 1934 as an importer of refrigerators and washing machines and later entered the respiratory care market in 1971 with the development of a unique respiratory humidifier system for use in critical care. The Company has manufacturing facilities in New Zealand and Mexico. Its products are sold in more than 120 countries worldwide and is supported by a global team of over 3,500 people which include more than 500 staff dedicated to research and development.
Last Close Stock Review
ResMed's share price finished last Friday's trading session at $77.25, marginally down 0.06%. A total volume of 352.53 thousand shares have exchanged hands. The Company's stock price rallied 0.56% in the last three months, 11.91% in the past six months, and 19.77% in the previous twelve months. Additionally, the stock surged 24.50% since the start of the year. Shares of the Company have a PE ratio of 32.15 and have a dividend yield of 1.81%. The stock currently has a market cap of $10.99 billion.
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