(Reuters) - New Zealand medical device firm Fisher & Paykel Healthcare Corp <FPH.NZ> cut its fiscal 2019 net profit outlook on Monday on the back of expected legal costs to contest patent allegations made by ResMed Inc <RMD.N>.
The firm said it would contest the patent allegations made against it by ResMed in the U.S. International Trade Commission (ITC) and U.S. District Court for the Southern District of California.
Due to legal expenses, Fisher & Paykel said its expected fiscal 2019 net profit would be in the range of about NZ$205 million ($135.6 million) to NZ$210 million at current exchange rates, lower than about NZ$215 million provided earlier.
Half-year earnings guidance remains unchanged, the firm said in a statement.
ResMed filed complaints on Saturday, New Zealand time, in the ITC and the U.S. District Court regarding the New Zealand firm's Eson and Simplus range of masks, which are used in the treatment of obstructive sleep apnea, Fisher & Paykel said.
It said ResMed is seeking damages and injunctive relief in the U.S. District Court, as well as an exclusion order through the ITC, which if granted could prevent the import of the products into the United States.
Fisher & Paykel said it has been in litigation with ResMed since August 2016 with allegations of patent infringement brought by both parties in the United States, Europe, New Zealand and Australia.
(Reporting by Aaron Saldanha in Bengaluru, editing by David Evans and Daniel Wallis)
