StockNews - Biosensors defends suit successfully

Biosensors yesterday successfully defended itself from the suit filed at the Hague by Canada based Angiotech Pharmaceuticals and Boston Scientific. By the success of this, Biosensors will be able to continue producing its Axxion drug-eluting stents in the Netherlands, allowing it to distribute it throughout Europe and worldwide where respective regulatory approvals have been obtained. Biosensors closed at $1.20 yesterday, up from $1.05 on the last day of trading before the long CNY break. More upside can be seen as it dropped from $1.38 in Nov 2005 when news of the lawsuit breaks.