Full Press Release Details
Issues Permanent Injunction Enjoining OMI from Infringing a Retractable
Technologies, Inc. Syringe Patent
LITTLE ELM, Texas March 5, 2010 Retractable
Technologies, Inc. ( Retractable ) (AMEX: RVP), a leading maker of safety
needle devices, announced that a final judgment and permanent injunction were
entered March 4, 2010 in the litigation of Retractable Technologies, Inc.
v. OMI (Occupational & Medical Innovations Limited, an Australian
On December 18, 2009, the jury delivered a
verdict in favor of Retractable in its patent infringement and misappropriation
of trade secrets lawsuit against OMI. The Court ordered that Retractable
recover damages and prejudgment interest from OMI based on OMI s
misappropriation of trade secrets in the amount of $3,153,575. In addition, the
Court entered a permanent injunction enjoining OMI, its manufacturers,
distributors and service providers from infringing Retractable s Patent Number
6,572,584, by making, importing, selling, or using any of OMI s syringes in the
United States and its territories. The permanent injunction was effective at
12:00 noon, Central Time, on March 4, 2010.
Retractable manufactures and markets safety medical
products, principally VanishPoint automated retraction safety syringes,
automated retraction blood collection devices, and automated retraction I.V.
catheters, that virtually eliminate healthcare worker exposure to accidental
needlestick injuries. These revolutionary devices use patented technology that
causes the contaminated needle to retract automatically, a feature that is
designed to prevent both accidental needlestick injury and device reuse.
Retractable also manufactures and markets Patient Safe syringes that
are uniquely designed to reduce the risk of bloodstream infections resulting
from catheter hub contamination. Patient s Safe unique luer guard reduces the
risk of luer tip contact contamination and the risk of contamination of
intravenous fluid. Retractable s products are distributed by various specialty
and general line distributors. For more information on Retractable, visit our
website at www.vanishpoint.com.
Forward-looking statements in this press release are
made pursuant to the safe harbor provision of the Private Securities Litigation
Reform Act of 1995 and reflect our current views with respect to future events.
We believe that the expectations reflected in such forward-looking statements
are accurate. However, we cannot assure you that such expectations will
materialize. Our actual future performance could differ materially from such
Factors that could cause or contribute to such
differences include, but are not limited to: our ability to maintain liquidity;
our maintenance of patent protection; the impact of current litigation (as it affects
our costs as well as market access); the ability to maintain favorable supplier
arrangements and relationships; the ability to receive royalties from Baiyin
Tonsun Medical Device Co., Ltd.; our ability to quickly increase capacity in
response to a dramatic increase in demand (such as by increased orders due to
swine flu vaccinations); our ability to access the market; our ability to
maintain or lower production costs; our ability to continue to finance research
and development as well as operations and expansion of production; the
increased interest of larger market players, specifically Becton Dickinson and
Company, in providing devices to the safety market; and other risks and
uncertainties that are detailed from time to time in Retractable s periodic
reports filed with the U.S. Securities and Exchange Commission.
Vice President and Chief
(888) 806-2626 or (972)