Johnson & Johnson stocks benefit from patent ruling

Dow industrials component Johnson & Johnson has gained 35 cents to US$50.41.

This comes after an arbitration panel ruled that Guidant must pay J&J unit Cordis US$425m as part of a patent infringement claim.

The panel upheld its preliminary finding in June that Guidant had infringed a patent.

J&J said it would account for the payment, required to be made in 90 days, in the quarter in which it is received.

Guidant's stock fell 61 cents to US$47.30.