UPDATE 1-US court overturns Insulet's $452 mln insulin-pump trade secret verdict against EOFlow
Insulet Corporation PODD | 0.00 |
Adds case context in paragraphs 2-3
By Blake Brittain
WASHINGTON, May 28 (Reuters) - A U.S. appeals court on Thursday overturned a $452 million verdict that medical device maker Insulet PODD.O won against Korean rival EOFlow 294090.KQ for allegedly stealing trade secrets related to its insulin-pump technology.
The Washington-based U.S. Court of Appeals for the Federal Circuit reversed the verdict after finding that Insulet had waited too long to bring its lawsuit.
A federal jury in Massachusetts had determined in 2024 that EOFlow owed $452 million in damages for misappropriating Insulet trade secrets to create a competitor to Insulet's Omnipod, a wearable insulin pump for diabetes patients.
