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DECN Sets Plan to Make Upcoming Patent Infringement Appeal Hearing and Mediation with Johnson & Johnson a Foundation for Substantial Recovery
DECN Sets Plan to Make Upcoming Patent Infringement Appeal Hearing and Mediation with Johnson & Johnson a Foundation for Substantial Recovery.
About this update from Decision Diagnostics Corp
[{"type":"text","content":"Company Plans to Build a Foundation for Settlement of All Legal Matters by Wrapping a Legal Settlement into a Wide Ranging Pact to Include its Genultimate TBGLOS ANGELES, CA / ACCESSWIRE / May 9, 2019 / Decision Diagnostics Corp. (OTC PINK: DECN) is a 17 year old, diabetes-focused bio-technology R&D firm, manufacturer, quality plan administrator, FDA registered medical device customer support organization, and exclusive worldwide sales and regulatory process agent for the GenUltimate! ('Sunshine') diabetes test strip, the internationally launched GenSure! ('Feather') diabetes test strip, and its GenChoice! ('Ladybug') test strip now under review for FDA 510K clearance. The company also markets the PetSure! test strip for the diabetic testing of dogs and cats, a diagnostic specifically designed to run on the market leading Zoetis Alpha Trak meter system, and the GenUltimate! Test 4Pets test strip and Avantage! meter launched earlier in 2019, and the panacea GenUltimate! TBG ('Dragonfly') highly precise diabetes testing system, ready for clinical trials.As discussed earlier this week, DECN views the mid-course Appeal in its patent litigation battle with Johnson & Johnson as a paramount event, the company also feels that the Mediation prior to the Appeal hearing is perhaps more important. The Mediation presents an opportunity to settle all of the differences between the litigants who have been battling since 2011. And DECN plans to use this Mediation to wrap a legal settlement into a wide ranging pact to include a sale or licensing arrangement for its panacea GenUltimate TBG product with Platinum Equity, Lifescan, Inc.'s new owner.Keith Berman, CEO of DECN commented, "We are confident that our overall patent case against J&J is strong. We have reviewed the cost of J&J's infringement time and again, and believe the direct cost of their infringement is approximately $350 million when taking into account J&J's reported sales during the period from 2010-2016 (the look back period), and the $.75 per test strip charged for the 9+ billion test strips sold during that time period. There are also indirect damages suffered."DECN is also the manufacturer of the GenUltimate TBG test strip and Precise glucometer. This system, as well as our GenUltimate product, are fully compatible with the OneTouch Ultra family of...