Sharechat Logo

F&P Healthcare files patent complaint against rival ResMed; earnings outlook unchanged

Tuesday 11th September 2018

Text too small?

Fisher & Paykel Healthcare has filed a complaint against its rival ResMed, alleging some of ResMed's masks used to treat obstructive sleep apnea infringe its patents.

Auckland-based F&P Healthcare said it has filed a complaint with the US International Trade Commission, alleging the AirFit P10 for Her masks and AirFit P10 for AirMini masks infringe five of its patents and seeking a permanent exclusion order and cease and desist order to prevent the sale and importation of the AirFit P10 range of masks in the US.

“Over the past 20 years, Fisher & Paykel Healthcare has built a significant portfolio of more than 2,000 issued and pending patents," F&P Healthcare managing director Lewis Gradon said in a statement. "We have developed unique mask technology that has provided improved care and outcomes for patients with OSA and we take infringement of our intellectual property rights very seriously.”

F&P Healthcare's action comes hot on the heels of a complaint to the commission from ResMed earlier this month, where the US company sought to ban the importation and sale of F&P Healthcare's Simplus full face mask, Eson nasal mask and Eson 2 nasal mask in the US, and separately lodged a new suit in the US district court accusing the Kiwi firm of patent infringement and seeking damages plus an injunction against future sales of the masks. 

The rival companies have been locked in litigation since 2016 spanning the US, UK, Europe, New Zealand and Australia.

F&P Healthcare spent $15.6 million on litigation in the year ended March 31, 2018, down from $20.7 million a year earlier. F&P Healthcare said today its earnings guidance for the 2019 financial year remains unchanged as its latest update on Sept. 3  allowed for legal costs of the latest action. That guidance said the patent dispute would cut annual earnings by as much as $10 million to a range of $205 million to $210 million in the year ending March 31, 2019, from a previous forecast of $215 million.

F&P Healthcare shares slipped 0.3 percent to $14.75, having gained 15 percent over the past year. 

(BusinessDesk)

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Spark scolded for misleading customers on broadband price hike
Zespri annual profit jumps 77% on higher kiwifruit sales, increased licensing
Freightways says express package growth slowed in 2H, may flow into FY2020
BUDGET 2019: NZ debt target to be more flexible from 2022
Argosy annual profit climbs 36% on revaluation gains, pays slightly bigger dividend
NZ-owned banks says RBNZ capital proposals will make it harder to compete
Sanford earnings hit by vessel impact from crew death
Metroglass' Australian woes drag annual net profit down 69%
Fonterra says more assets under review as it cuts guidance, narrows forecast payout
Active, planning role urged for new infrastructure body

IRG See IRG research reports