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News Breaks
April 12, 2014
19:50 EDTEW, MDTEdwards says court limits sale of Medtronic CoreValve system in U.S.
Edwards Lifesciences (EW) announced that the U.S. District Court for the District of Delaware granted a preliminary injunction limiting the sale of Medtronic's (MDT) CoreValve system in the United States. The court ordered the injunction to go into effect in seven business days. The hearing related to a federal jury decision in 2010 that CoreValve willfully infringes Edwards' U.S. Andersen transcatheter aortic valve replacement patent. At the conclusion of the hearing, Chief Judge Gregory Sleet ordered Edwards and Medtronic to confer on what instances the CoreValve device could continue to be used in the treatment of U.S. patients at centers currently trained on CoreValve. There is a large body of evidence demonstrating the safety and performance of the Edwards SAPIEN valves, and the company remains committed to ensuring patients have appropriate access to transcatheter therapy. This case was initiated by Edwards in 2008. On April 1, 2010, a federal jury found Medtronic willfully infringed Edwards' U.S. Andersen patent and awarded damages. In Nov. 2012, the U.S. Court of Appeals for the Federal Circuit affirmed the jury decision; in Oct. 2013, the U.S. Supreme Court declined to hear Medtronic's appeal. The patent involved in this suit is part of the Andersen family of patents. The U.S. Andersen patent was issued in 1995. A petition has been filed with the U.S. Patent and Trademark Office to extend this patent into early 2016. In a separate case, a federal jury in January found that Medtronic CoreValve had willfully infringed Edwards' U.S. Cribier transcatheter heart valve patent, and awarded damages to Edwards in that trial.
News For EW;MDT From The Last 14 Days
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March 2, 2015
12:59 EDTMDTAppeals court ruling a positive for NuVasive, says Wells Fargo
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12:54 EDTMDTNuVasive gets mixed appeals court ruling in patent fight with Medtronic
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08:55 EDTMDT, EWEdwards Lifesciences Medtronic likely to get positive catalyst, says Wells Fargo
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February 27, 2015
09:02 EDTMDTMedtronic announces Irish High Court approval of share premium reduction
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February 24, 2015
13:02 EDTMDTMedtronic confirms FDA approval of VenaSeal closure system
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February 23, 2015
08:40 EDTMDTMedtronic acquires Advanced Uro-Solutions, terms not disclosed
Medtronic announced that it has acquired Advanced Uro-Solutions, a privately-held developer of neurostimulation products for the treatment of bladder control issues based in Elizabethton, Tennessee. Terms of the acquisition agreement, which closed in December 2014, were not disclosed.
February 20, 2015
12:19 EDTMDTFDA approves closure system to permanently treat varicose veins
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February 19, 2015
16:15 EDTMDTMedtronic SANTE trial data show sustained safety, improvements in QOLIE-31
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February 17, 2015
09:29 EDTMDTMedtronic says FY16 constant currency revenue may be up mid-single digit range
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09:27 EDTMDTMedtronic, Covidien targeting over $850M in cost synergies through FY18
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08:49 EDTMDTMedtronic sees being at high end of Q4 revenue growth range
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07:19 EDTMDTMedtronic sees Q4 revenue up 4%-6%
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07:18 EDTMDTMedtronic reports Q3 EPS $1.01, consensus 97c
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