Boston Scientific Corp. again agreed to pay Johnson & Johnson a hefty sum to end patent disputes, this time agreeing to a $1.73 billion payment to settle litigation over heart stents. The companies had settled 14 other patent-infringement suits in September, with Boston agreeing to pay $716 million then.

Boston Scientific said Monday the decision to settle was part of its effort to decrease risk throughout the company. "We believe today's settlement, although substantial, is in the best interest of the company and its shareholders," Chief Executive Ray Elliott said.

The three disputes settled Monday, which date back to 2003, involved heart-stent technology. Two were accusations by Johnson and Johnson that Boston Scientific heart stents infringed two J&J patents. The third dispute was instigated by Boston Scientific, saying the other company's stents infringed on its own intellectual property.

Boston Scientific shares closed down 2.43 per cent to $8.42, while J&J shares were mildly up, 0.36 percent to $63.09.