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Tuesday, September 26, 2006

Boston Scientific sued for billions


Months after health care giant Johnson & Johnson lost a bidding war for medical device maker Guidant Corp., J&J is suing the winner, Boston Scientific Corp., and Abbott Laboratories, alleging the two companies breached J&J's merger agreement with Guidant.

New Brunswick-based Johnson & Johnson is seeking $5.5 billion in damages, according to the lawsuit, which was filed Monday in U.S. District Court in New York. The lawsuit also seeks reimbursement for court costs, attorney fees and interest.

Read more of this story in the Globe's business breaking news blog.

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