Medisys surges on diabetes court victory

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The Independent Online

Medisys, the Scottish medical devices company, has won a US court victory in a patent dispute with the pharmaceuticals giant Roche, sending its market value up by more than two-thirds in a day.

Medisys, the Scottish medical devices company, has won a US court victory in a patent dispute with the pharmaceuticals giant Roche, sending its market value up by more than two-thirds in a day.

The little manufacturer of diabetes-testing kits said it had won the first part of a dispute relating to chemical-reaction technology found in its blood-glucose monitor, since a Roche patent was deemed unenforceable.

A second area of dispute is expected to be decided in August, but Roche said it was considering an appeal against the first ruling, which came late on Monday.

Medisys shares, which had been languishing at an all-time low because of the uncertainty over the diabetes kits, shot up 68 per cent, or 1.65p to 4.07p, valuing the company at £21.3m.

The company said: "The board is now consulting with its US legal counsel to consider the full implications of this positive development and will update shareholders further in due course."

At its height in 2000, Medisys was valued at more than £800m on hopes for its new diabetes kits and a safety syringe with a retractable needle.

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