DECN SETS PLAN TO MAKE UPCOMING PATENT APPEAL HEARING AND MEDIATION WITH JOHNSON & JOHNSON A FOUNDATION FOR SUBSTANTIAL RECOV...
May 09 2019 - 9:55AM
InvestorsHub NewsWire
DECN SETS PLAN
TO MAKE UPCOMING PATENT INFRINGEMENT
APPEAL HEARING AND
MEDIATION WITH JOHNSON & JOHNSON A FOUNDATION FOR
SUBSTANTIAL RECOVERY
++ COMPANY
PLANS TO BUILD A FOUNDATION FOR
SETTLEMENT OF ALL LEGAL MATTERS
BY WRAPPING A LEGAL SETTLEMENT
INTO A WIDE RANGING PACT TO INCLUDE ITS
GENULTIMATE TBG ++
LOS
ANGELES,
CA. -- May 9, 2019 -- InvestorsHub
NewsWire -- Decision Diagnostics Corp.
(OTC PINK:
DECN) is a 17-year old, diabetes-focused
bio-technology R&D firm, manufacturer, quality plan
administrator, FDA registered medical device customer support
organization, and exclusive worldwide sales and regulatory process
agent for the GenUltimate! ("Sunshine") diabetes
test strip, the internationally
launched GenSure! ("Feather") diabetes test strip, and
its
GenChoice!
("Ladybug") test strip now under review
for FDA 510K clearance. The company also
markets the PetSure! test strip for the
diabetic testing of dogs and cats, a diagnostic specifically
designed to run on the market leading Zoetis Alpha Trak meter
system, and the GenUltimate! Test
4Pets test
strip and
Avantage! meter launched earlier in 2019,
and the
panacea GenUltimate! TBG
("Dragonfly")
highly
precise diabetes testing system,
ready for clinical trials.
As discussed earlier this
week, DECN views the mid-course Appeal in its patent
litigation battle with Johnson &
Johnson as a paramount event, the company also feels that the
Mediation prior to the Appeal hearing is perhaps more important. The
Mediation presents an opportunity to settle all of the differences
between the litigants who have been battling since 2011. And DECN
plans to use this Mediation to wrap a legal settlement into a wide
ranging pact to include a sale or licensing arrangement for its
panacea GenUltimate TBG product with Platinum
Equity, Lifescan, Inc.'s new owner.
Keith Berman, CEO of DECN
commented, "We are confident that our overall patent case against
J&J is strong. We have reviewed the cost of J&J's
infringement time and again, and believe the direct cost of
their infringement is
approximately
$350 million when taking into account
J&J's reported sales during the period from 2010-2016 (the look back
period), and the $.75 per test strip charged for
the
9+ billion test strips
sold during that time
period. There are also indirect
damages suffered."
DECN is also the manufacturer of the
GenUltimate TBG test strip and Precise glucometer. This
system, as well as our GenUltimate product, are fully compatible
with the OneTouch Ultra family of meters, products
that have been eclipsed but are still market leaders even
as this
family of
products enters their 19th year of commercialization.
GenUltimate TBG will be the first glucose measuring
system,
with the GenUltimate TBG test strip capable of 100% compatibility
with the Lifescan, Inc. OneTouch Ultra family of meters, but along
with the GenUltimate TBG Precise meter, TBG will provide
unparalleled precision and accuracy in a market where the
technology has been stagnant for the past decade.
Mr. Berman continued, "While
it is our desire to settle all of our differences with Johnson
& Johnson, we are still prepared to take the current litigation
to its conclusion. And should J&J opt to continue their
challenge, DECN
plans to file additional litigation against J&J for false
advertising, something we had planned to do prior to the
unreasonable ruling by the lower court judge. Let us hope
that more litigation isn't J&J's answer."
Mr. Berman concluded, "DECN
has two interested parties for our GenUltimate TBG, but only one of
the offers currently piques the interest of the Board. Ultimately our
investors and shareholders need to understand that a company is a
business and not just a stock. The Board's job, most of
all, is to provide continuity, and
we do seem to have the
product and
market answers to many
questions."
ABOUT DECISION DIAGNOSTICS CORP
Decision Diagnostics Corp. is
the leading manufacturer and worldwide distributor of diabetic test
strips engineered to operate on legacy glucose meters. DECN's
products are designed to operate efficiently and less expensively
on certain glucose meters already in use by almost 7.5 million
diabetics worldwide. With new inspired technology diabetic test
strips already in the final stages of development, DECN products
compete on a worldwide scale with legacy manufacturers currently
selling to 71+ percent of a $12 billion at-home testing
market.
Forward-Looking Statements:
This release contains the
company's forward-looking statements which are based on
management's current expectations and assumptions as
of May 8, 2019, regarding the company's
business and performance, its prospects, current factors, the
economy, and other future conditions and forecasts of future
events,
circumstances, and results.
CONTACT INFORMATION:
Decision Diagnostics
Corp.
Keith Berman
(805) 446-2973
info@decisiondiagnostics.com
www.genultimate.com
www.petsureteststrips.com
www.pharmatechdirect.com
SOURCE:
Decision Diagnostics Corp.
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