|[September 19, 2013]
Retractable Technologies, Inc. Announces Verdict
LITTLE ELM, Texas --(Business Wire)--
Retractable Technologies, Inc. (NYSE MKT: RVP), a leading maker of
safety medical devices, announced today that a Tyler, Texas jury
returned a verdict in the litigation of Retractable Technologies, Inc.
v. Becton, Dickinson and Company in favor of Retractable. After a six
year battle, the verdict vindicates Retractable's claim that industry
giant Becton, Dickinson and Company illegally engaged in anticompetitive
conduct with the intent to acquire or maintain monopoly power in the
safety syringe market and engaged in false advertising under the Lanham
Act. The jury awarded Retractable $113,508,014 in compensatory damages
subject to being trebled pursuant to federal statute. Retractable is
represented by Locke Lord LLP; Ireland, Carroll & Kelley, P.C.; and Jim
Parsons (News - Alert) Law.
Retractable manufactures and markets VanishPoint® and Patient
Safe® safety medical products. The VanishPoint® syringe,
blood collection, and IV catheter products are designed to prevent
needlestick injuries and roduct reuse by retracting the needle directly
from the patient, effectively reducing exposure to the contaminated
needle. Patient Safe® syringes are uniquely designed to
reduce the risk of bloodstream infections resulting from catheter hub
contamination. 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 statements.
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; our ability to
maintain favorable supplier arrangements and relationships; our ability
to quickly increase capacity in response to an increase in demand; 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
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