Pfizer, Inc. v. Stryker Corp.

MEMORANDUM OPINION

(Corrected)

KAPLAN, District Judge.

In 1998, Pfizer, Inc. and MTG Divestitures, Inc. (collectively “Pfizer”) sold its prosthetic joint and implant business to Stryker Corp. and Howmedica Osteonics Corp. (collectively “Stryker”) for $1.6 billion. The pertinent agreements provided, broadly speaking, that Pfizer would retain liability for third party product liability claims arising in respect of prosthetic joints sold prior to the closing, while Stryker would be responsible for claims relating to joints sold after the closing. Once the deal closed, however, the parties each…