Fisher and Paykel Health Corporation Limited (ASX: FPH) is into health care business. The company was listed in 2001 and is based in Maurice Paykel Place, East Tamaki, Australia. It is a leader in medical devices and systems and the products are sold in more than 120 countries. The group caters to the respiratory and acute care and treatment of obstructive sleep apnoea.
Today (21 February 2019), Fisher and Paykel Health Corporation made an announcement regarding the Settlement of Global Patent Infringement Litigation in which it announced that along with ResMed the company has agreed for the settlement of all outstanding infringement disputes related to patents between them in all venues across the globe.
As per the company’s announcement, the companies need not to pay anything involving the settlement or need not to have any admission of liabilities either. As per the agreement, all current legal proceedings against the named products of the companies will be dismissed, with each party bearing its legal fees. However, all other terms are kept confidential.
There will be no further proceedings against ResMed products for infringement, which includes products like AirSense flow generators, AirFit, Swift FX masks etc. No further infringement proceedings will be on Fisher & Paykel Healthcare as well including products like Simplus, Eson and Eson 2.
As per the CEO of Resmed Mick Farrell the company is pleased to have resolved the disputes. The agreement will serve the company in a positive manner and will also be beneficial to the stakeholders of the company, which includes patients, providers, physicians, and shareholders.
The company is satisfied that the disputes with Resmed have ended and it appreciates the support of the customers and shareholders during the process as stated by the CEO of Fisher & Paykel Healthcare, Lewis Gradon. The company generated several intellectual properties through investment in research and development over several years, and this has a positive impact on the lives of many patients positively.
Further, the company today said that the settlement of the global patent infringement litigation with ResMed would have no material impact on the earnings guidance provided by the company previously 26 November 2018. Moreover, the net profit after tax guidance for the 2019 financial year will remain unimpacted materially from the expected legal fees that will be incurred to withdraw any pending infringement as expected by the company.
On the price-performance front, the stock of Fisher and Paykel Health Corporation Limited last traded at $13.710 with an increase of 7.109% during the day’s trade and with a market capitalisation of $7.34 billion. The stock has generated a YTD return of 5.70% and posted a negative return of 6.71% and 2.36% over the last six months and one-month period; however, it has generated a return of 5.87% over the last three months. The stock has a 52-week high price of $15.070 and a 52-week low price of $11.180 with an average trading volume of 316,872. It is trading at PE multiple of 37.880x with an EPS of AUD 0.338. It has an annual dividend yield of 1.62%.
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