Shares for NuVasive shot up Wednesday after a U.S. District Court judge delivered rulings on Medtronic's injunction request against the company, according to a Nasdaq news report.
Last year a jury awarded $101.2 million to Medtronic, finding that NuVasive had infringed on three of the company's spine implant patents. Medtronic sought a permanent injunction of the verdict to prevent further sales of those products, which the district court judge denied in tentative and non-binding rulings on the post-trial motions, according to the report.
After the denial, NuVasive shares rose over 19 percent until the market closed for the day.
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After the denial, NuVasive shares rose over 19 percent until the market closed for the day.
Related Articles on Orthopedic Devices:
Interventional Spine Receives FDA Clearance for Spine Device
Zimmer's 2.9% Sales Increase Driven by Foreign Markets
DJO Net Sales Top $1B in 2011 Preliminary Report