3M Co won an injunction from a federal judge against a New Jersey company it accused of illegally using its trademarks to sell 3M-branded N95 respirator masks at inflated prices to exploit the coronavirus pandemic.
FILE PHOTO: Various N95 respiration masks at a laboratory of 3M, that has been contracted by the U.S. government to produce extra marks in response to the country's novel coronavirus outbreak, in Maplewood, Minnesota, U.S. March 4, 2020. Picture taken March 4, 2020. REUTERS/Nicholas Pfosi
3M, based in St. Paul, Minnesota, is the world’s largest maker of N95 masks, which are designed to filter 95% of airborne particles. 3M said the markup was roughly five times its list prices of $1.02 to $1.31 per mask, depending on the model, and amounted to “extreme” price gouging. “The goal from the start has been to try to get rid of ‘static’ in the system so that procurement officers don’t have to sort through misleading offers, and we can get our respirators where they need to be,” William Childs, a senior counsel at 3M, said in an interview.
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