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Decision Diagnostics Emerges Victorious in End to Acrimonious Patent Litigation With Divisions of Johnson + Johnson
Decision Diagnostics Emerges Victorious in End to Acrimonious Patent Litigation With Divisions of Johnson + Johnson.
About this update from Decision Diagnostics Corp
[{"type":"text","content":"\n \n \n Decision Diagnostics Emerges Victorious in End to Acrimonious Patent Litigation With Divisions of Johnson + Johnson\n \n \nDecision Diagnostics Emerges Victorious in End to Acrimonious Patent Litigation With Divisions of Johnson + Johnson\n\nCompany Now Focused on Critical Immediate and Future Tasks: Sales, New Product Development and Launch, Growth, Product Branding, and Winning Its Strategic Patent Suit in Nevada\n\n \n LOS ANGELES, CA--(Marketwired - Jun 2, 2016) - Decision Diagnostics Corp. (OTC PINK: DECN), the manufacturer, quality plan administrator and the exclusive worldwide sales, service and regulatory processes agent for GenStrip™ 50 and the GenUltimate!™ glucose test strips, both designed to work with the market leading Johnson & Johnson's (\"J&J\") LifeScan OneTouch Ultra family of glucose testing meters, and the in-development GenSure!™ and GenChoice!™ glucose test strips targeted to the U.S. and/or developing world markets, today reports the completion of term negotiations and the signing of a final settlement to conclude all patent litigation filed by J&J against PharmaTech Solutions and its parent company Decision Diagnostics.\n As the company's loyal shareholders are well aware, Decision Diagnostics and its subsidiary PharmaTech Solutions were reluctantly drawn into this lengthy patent litigation journey nearly five years ago, with two divisions of Johnson + Johnson. The management team at DECN was deeply knowledgeable and extensively experienced in glucose test strip technology. Prior to market introduction, it was the shared internal opinion that the companies' GenStrip product was independent of any current product patent and infringed on no proprietary intellectual property. Extensive research by expert patent attorneys was contracted by the company and its insurers to corroborate that belief.\n Fortified with comprehensive legal assurances, GenStrip was targeted for launch and commercialization. Market planning and projections strongly indicated rapid growth and broad distribution. Contracts were negotiated with critical brick and mortar chain drug and mass merchandisers, as well as pharmaceutical group purchasing organizations. Print and television advertising was created and a supportive promotional campaign was launched. Revenue began flo...