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Court Denies Medtronic, NuVasive Motions Ahead of Hearing Thursday

By Anjali Athavaley Of DOW JONES NEWSWIRES NEW YORK -(Dow Jones)- A federal court has denied motions for judgment from medical device makers Medtronic Inc. (MDT) and NuVasive Inc. (NUVA) ahead of a hearing Thursday. Last September, NuVasive said a jury awarded Medtronic $101.2 million in damages after ruling that NuVasive infringed on three spinal-implant patents. The court on Thursday is scheduled to hear arguments relating to Medtronic's request for a permanent injunction and NuVasive's request that the court reject the jury verdict. The decisions on Wednesday were issued by the United States District Court for the Southern District of California. The court denials Wednesday are tentative, ahead of the Thursday hearing. NuVasive shares rose 19%, to $16.30 on the news. The possibility of an injunction has hurt NuVasive's shares in recent months. Rick Wise, an analyst at Leerink Swann, said in a note early Wednesday that an "injunction seems like a less likely outcome," but he noted that NuVasive will likely still have to pay royalties. NuVasive reported a third-quarter loss of $67.6 million on expenses related to the patent case. NuVasive and Medtronic didn't immediately respond to requests for comment. -By Anjali Athavaley, Dow Jones Newswires; 212-416-4912; anjali.athavaley@dowjones.com

Stock News for Nuvasive (NUVA)
DateTimeHeadline
05/26/201516:37:54Amended Statement of Changes in Beneficial Ownership (4/a)
05/26/201508:31:38Current Report Filing (8-k)
05/20/201517:18:32Statement of Changes in Beneficial Ownership (4)
05/06/201516:13:19Statement of Changes in Beneficial Ownership (4)
05/06/201511:03:45NuVasive Upgraded at Zacks (NUVA)
05/05/201518:06:02NuVasive Climbs on Strong Earnings, Sales Growth
05/05/201516:37:01TheStreet Upgrades NuVasive to "Buy" (NUVA)
05/05/201515:21:43NuVasive Given a $55.00 Price Target by Brean Capital Analysts...
05/04/201517:15:04Quarterly Report (10-q)
05/04/201516:21:11Current Report Filing (8-k)
05/01/201516:52:27Statement of Changes in Beneficial Ownership (4)
04/30/201515:25:49Additional Proxy Soliciting Materials (definitive) (defa14a)
04/30/201515:20:38Proxy Statement (definitive) (def 14a)
04/30/201506:30:52Current Report Filing (8-k)
04/30/201503:31:23NuVasive Stock Rating Reaffirmed by Canaccord Genuity (NUVA)
04/28/201516:48:49Statement of Changes in Beneficial Ownership (4)
04/08/201517:54:15Statement of Changes in Beneficial Ownership (4)
04/03/201516:00:00Seeking Alpha's Biotech Weekly: Billion Dollar Deals, Gilead...
04/01/201510:10:10NuVasive CEO Resigns After Probe Finds Policy Violations
04/01/201508:36:45Current Report Filing (8-k)

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