News Breaks |
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| November 13, 2012 |
| 11:25 EDT |  | EW, MDT | Court affirms Edwards patents infringed, says injunction should be reconsidered
Edwards Lifesciences (EW) sued defendants CoreValve, a unit of Medtronic (MDT), over patent infringement related to a prosthetic device called a “transcatheter heart valve.” A district court jury ruled Edwards' patent to be valid and infringed by CoreValve and awarded damages of $72.65M in lost profits and $1.28M as a reasonable royalty. The district court entered judgment on the verdict, but declined to enhance damages for the willful infringement. The lower court also declined to issue an injunction against future infringement. The United States Court of Appeals for the Federal Circuit affirmed the district court’s rulings, except the appeals court remanded for reconsideration the lower court’s denial of an injunction. |
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News For EW;MDT From The Last 14 Days Check below for free stories on EW;MDT the last two weeks. |
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| June 19, 2013 |
| 08:45 EDT |  | MDT | Leerink's biotech analyst holds analyst/industry conference call on ADA
Analyst Antlaffy, along with Dr. George Grunberger, founder & Chairman of the Grunberger Diabetes Institute, preview the upcoming American Diabetes Association's conference, including perspectives on new devices in diabetes, potential disruptive technologies at ADA and progress towards the artificial pancreas on an Analyst/Industry conference call to be held on June 20 at 2 pm. |
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| June 18, 2013 |
| 09:04 EDT | | MDT | Wells Faro to host a conference
2013 Healthcare Conference is being held in Boston on June 18-19 with webcasted company presentations to begin at 8:15 am; not all company presentations may be webcasted. Webcast Link |
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| 07:56 EDT |  | MDT | Medtronic InFuse sales unlikely to drop meaningfully, says Stifel
After examining Yale's review of Medtronic's InFuse program, Stifel doesn't see any significant surprises in the report that would trigger a meaningful downturn in sales of the product. The firm keeps a Hold rating on Medtronic. |
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| 07:28 EDT | | MDT | Wells Faro to host a conference
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| 07:22 EDT | | MDT | Impact to Medtronic from Infuse risk manageable, says Bernstein
After Yale reviewed Medtronic's Infuse product and found that it slightly increases cancer risk, Bernstein expects the impact on Medtronic's stock to be manageable, as Infuse makes up only 3% of the company's sales and less of its profits. The firm expects Infuse sales to drop by about 4% in FY14, but it keeps an Outperform rating on the stock. |
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| June 17, 2013 |
| 18:02 EDT | | MDT | Medtronic acknowledges findings from Yale review of Infuse bone graft
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| June 14, 2013 |
| 09:57 EDT | | MDT, EW | Court ruling a minor negative for Edwards Lifesciences, says Leerink
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| 09:45 EDT | | MDT, EW | Edwards lost first of three cases against Medtronic, says Wells Fargo
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| 07:53 EDT | | EW, MDT | Edwards loses patent bid in Germany versus Medtronic, Bloomberg says
A German court ruled that Edwards Lifescience's (EW) patent does not cover Medtronic's (MDT) product, Bloomberg reports. |
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| June 13, 2013 |
| 11:02 EDT | | MDT | Leerink's major pharma analyst holds an analyst/Industry conference call
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| 05:17 EDT | | MDT | Medtronic announce CE Mark of ReDux Plier instrument
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| June 12, 2013 |
| 05:25 EDT | | MDT | NuVasive announces court ruling, intends to appeal verdict in Medtronic case
NuVasive announced that it received a ruling from the U.S. District Court in regards to ongoing royalty rates for Phase I of its patent litigation with Medtronic. As part of the verdict in Phase I of the litigation, royalty rates were determined by the jury as follows: 10% on certain of NuVasive's CoRoent XL implants and 3% on certain MaXcess retractors and related products. Before the appeal in Phase I could move forward, the Court was required to determine the ongoing royalty rates applicable to these products during the period of time following the verdict. Medtronic requested ongoing royalty rates of 36% on the applicable NuVasive CoRoent XL implants and 11% on the applicable MaXcess retractors and related products. However, in the ruling received, the Court ordered royalty rates of 13.75% on the applicable CoRoent XL implants and 8.25% on the applicable MaXcess retractors. Since September 2011, NuVasive has been accruing an estimated litigation royalty expense based on the royalty rates used in the jury's original calculation of lost profits and monetary damages. Prior to the post-verdict rates issued by the Court, the company had expected litigation royalty expense of approximately $11M for FY13. The new royalty rates determined today will increase that expected litigation royalty expense for 2013 by approximately $5M. In addition, in the current quarter, the company will record an approximate $6.5M charge to account for the historical difference between the post-verdict royalty rates determined today and the rates that were being used to calculate the litigation royalty expense accruals since September 2011. The vast majority of the litigation royalty expense accruals will end in February 2015 as certain Medtronic patents expire. As the verdict is being appealed, the company will accrue to the higher rates determined and will begin to escrow funds on a go-forward basis. |
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| June 11, 2013 |
| 07:31 EDT | | EW | Goldman to host a conference
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| June 10, 2013 |
| 10:04 EDT |  | EW | On The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Alexandria Real Estate (ARE) upgraded to Buy from Neutral at ISI Group... BB&T (BBT) upgraded to Overweight from Equal Weight at Evercore... CyrusOne (CONE) upgraded to Strong Buy from Outperform at Raymond James... EQT Corporation (EQT) upgraded to Buy from Hold at Brean Capital... Edwards Lifesciences (EW) upgraded to Outperform from Neutral at Credit Suisse... Enersis (ENI) upgraded to Buy from Neutral at Citigroup... Entergy (ETR) upgraded to Buy from Hold at Deutsche Bank... Monsanto (MON) upgraded to Outperform from Neutral at Macquarie... Regency Centers (REG) upgraded to Buy from Neutral at ISI Group... Silver Standard (SSRI) upgraded to Hold from Sell at Deutsche Bank... Standard Pacific (SPF) upgraded to Neutral from Underweight at JPMorgan... Stericycle (SRCL) upgraded to Buy from Hold at Wunderlich... WABCO (WBC) upgraded to Buy from Neutral at Goldman... Western Union (WU) upgraded to Outperform from Market Perform at Raymond James... Weyerhaeuser (WY) upgraded to Outperform from Sector Perform at RBC Capital... Washington Trust Bancorp (WASH) upgraded to Buy from Hold at Sandler O'Neill... EastGroup Properties (EGP) upgraded to Buy from Hold at Sandler O'Neill... Valeant (VRX) upgraded to Buy from Fair Value at CRT Capital... RF Micro Devices (RFMD) upgraded to Strong Buy from Buy at Charter Equity... Bank of the Ozarks (OZRK) upgraded to Outperform from Market Perform at Raymond James... United Community Banks (UCBI) upgraded to Outperform at Raymond James... Western Union (WU) upgraded at Raymond James... CyrusOne (CONE) upgraded to at Raymond James... AT&T (T) upgraded to Buy from Hold at Argus... IMAX (IMAX) upgraded to Buy from Neutral at B. Riley... TriMas (TRS) upgraded to Outperform from Market Perform at Barrington. |
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| 07:20 EDT | | MDT | Biomed to host a conference
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| 07:19 EDT | | MDT | PTC to host conference
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| 06:25 EDT | | EW | Edwards Lifesciences upgraded to Outperform from Neutral at Credit Suisse
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| June 7, 2013 |
| 08:23 EDT | | MDT | Medtronic has a conference call hosted by JPMorgan
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