Resources for Food and Drug Administration (FDA)
Supreme Court Gives Health-Care Companies a Boost
www.fool.com Investors should celebrate a Supreme Court ruling in favor of Medtronic (NYSE: MDT) that could save the company millions of dollars. But what should really excite them is the ruling's potential to save the entire medical-device industry billions of dollars.
In an 8-1 decision, the high court ruled this week against the estate of a patient who suffered serious injuries when one of Medtronic's catheters burst during a medical procedure. The court ruled that the estate couldn't sue under state law because the device was approved by the FDA under federal law. The ruling extends beyond Medtronic since it protects other medical-device
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