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8-K - 8-K - RETRACTABLE TECHNOLOGIES INC | a17-8990_18k.htm |
Exhibit 99
Retractable Technologies, Inc. Announces Litigation Updates
LITTLE ELM, Texas, March 21, 2017 Retractable Technologies, Inc. (NYSE MKT: RVP) announced today that the U.S. Supreme Court denied its petition for a writ of certiorari to review the December 2, 2016 Fifth Circuit Court of Appeals decision in its case against Becton, Dickinson and Company (BD). The Fifth Circuit Court of Appeals decision had remanded the case against BD to the Eastern District of Texas for a redetermination as to the amount of damages to which Retractable is entitled. On March 17, 2017, the Eastern District of Texas set the date for the one-day bench trial for May 11, 2017 in Sherman, Texas.
Retractable manufactures and markets VanishPoint® and Patient Safe® safety medical products and the EasyPoint® needle. The VanishPoint® syringe, blood collection, and IV catheter products are designed to prevent needlestick injuries and product reuse by retracting the needle directly from the patient, effectively reducing exposure to the contaminated needle. Patient Safe® syringes are uniquely designed to reduce the risk of bloodstream infections resulting from catheter hub contamination. The EasyPoint® is a retractable needle that can be used with Luer lock syringes, Luer slip syringes, and prefilled syringes to give injections. The EasyPoint® needle can also be used to aspirate fluids and collect blood. Retractables products are distributed by various specialty and general line distributors.
For more information on Retractable, visit its website at www.retractable.com.
Forward-looking statements in this press release are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995 and reflect Retractables current views with respect to future events. Retractable believes that the expectations reflected in such forward-looking statements are accurate. However, Retractable cannot assure you that such expectations will materialize. Actual future performance could differ materially from such statements.
Factors that could cause or contribute to such differences include, but are not limited to: Retractables ability to maintain liquidity; Retractables maintenance of patent protection; the impact of current and future Court decisions regarding current litigation; Retractables ability to maintain favorable third party manufacturing and supplier arrangements and relationships; foreign trade risk; Retractables ability to quickly increase capacity in response to an increase in demand; Retractables ability to access the market; Retractables ability to maintain or lower production costs; Retractables ability to continue to finance research and development as well as operations and expansion of production; the impact of larger market players, specifically BD, in providing devices to the safety market; and other risks and uncertainties that are detailed from time to time in Retractables periodic reports filed with the U.S. Securities and Exchange Commission.
Retractable Technologies, Inc.
Douglas W. Cowan, 888-806-2626 or 972-294-1010
Vice President and Chief Financial Officer