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Bristol-Myers/SciMed

Executive Summary

March 30 merger agreement has been terminated, SciMed announced, noting that the decision "was based on the fact that certain conditions relating to patents would not be satisfied." In March, an Eli Lilly subsidiary sued SciMed for patent infringement resulting from the introduction of a coronary angioplasty catheter. Company added tht the two firms "have begun discussion about the possibility of another type of relationship between them." The stock swap merger was valued at $88 mil.

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