After apparently exhausting every other means of obtaining access to the drug it needs to enter the drug-eluting stent (DES) market as quickly as possible, Guidant Corp. 's decision to acquire Cook Group Inc. for $3 billion depends on whether a Federal judge agrees with Guidant's argument that the deal doesn't result in an ownership change of the Cook Group's Cook Inc. subsidiary [See Deal]. The Guidant-Cook deal is the latest chapter in a stormy litigation cycle centered on a 1997 agreement in which Angiotech Pharmaceuticals Inc. licensed co-exclusive rights to the use of its paclitaxel drug in the stent market to both Cook Inc. [See Deal] and Boston Scientific Corp. [See Deal]
The licensing agreement reportedly includes a provision by which the other licensee can block the new owner from obtaining rights...