Retractable Technologies, Inc. Reports Settlement of All Existing Litigation

LITTLE ELM, Texas–(BUSINESS WIRE)–Retractable Technologies, Inc. (NYSE American: RVP) reports that a
settlement has been reached with both Becton, Dickinson and Company
(“BD”) and MDC Investment Holdings, Inc. (“MDC”) to settle all existing
litigation by and against Retractable. In 2007, Retractable sued BD for
violations of antitrust acts, false advertising, product disparagement,
tortious interference, unfair competition, and other matters. In 2007,
BD and MDC sued Retractable for patent infringement. A settlement
agreement, effective May 3, 2019, released all claims by Retractable
against BD and MDC arising prior to May 3, 2019 and all claims by BD and
MDC against Retractable arising prior to May 3, 2019. As a result, on
May 6, 2019, the following actions were taken in each of the two cases:
Retractable withdrew its petition before the U.S. Court of Appeals for
the Fifth Circuit for an en banc rehearing; and the parties filed
for a dismissal with prejudice in the U.S. District Court for the
Eastern District of Texas, Texarkana Division. The settlement does not
obligate either party to make any payment to the other and each party
shall be responsible for its own costs and attorneys’ fees.

ABOUT RETRACTABLE

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 also can be used to aspirate fluids and for blood collection.
Retractable’s 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 Retractable’s 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: potential tariffs, Retractable’s ability to maintain
liquidity; Retractable’s maintenance of patent protection; Retractable’s
ability to maintain favorable third party manufacturing and supplier
arrangements and relationships; foreign trade risk; Retractable’s
ability to quickly increase capacity in response to an increase in
demand; Retractable’s ability to access the market; Retractable’s
ability to maintain or lower production costs; Retractable’s ability to
continue to finance research and development as well as operations and
expansion of production; the impact of larger market players in
providing devices to the safety market; and other risks and
uncertainties that are detailed from time to time in Retractable’s
periodic reports filed with the U.S. Securities and Exchange Commission.

Contacts

Retractable Technologies, Inc.
Michele M. Larios, 888-806-2626 or
972-294-1010
Vice President and General Counsel

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