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Stock Market & Financial Investment News

News Breaks
November 13, 2012
15:32 EDTEW, MDTMedtronic says appeals court ruling has no impact on CoreValve trials
Medtronic (MDT) confirmed that the Federal Circuit Court of Appeals affirmed the April 2010 jury verdict from the Federal District Court of Delaware that the CoreValve System infringed a single Andersen patent held by Edwards Lifesciences (EW). The Court of Appeals also remanded the case back to the District Court to consider a potential injunction. Medtronic said, "While Medtronic respects the court's ruling, we respectfully disagree with this conclusion and we are evaluating next steps...While Edwards has applied for a patent extension, there is no assurance an extension will be issued or what the impact or duration of that extension would be. These applications involve a review by two government agencies, and the process often can take between 2 and 5 years." Medtronic said the legal actions have no impact on the Medtronic CoreValve U.S. Pivotal Trial, the Medtronic CoreValve SURTAVI Trial, or any other clinical studies evaluating the CoreValve System. Due to its global manufacturing capabilities, Medtronic does not anticipate any interruption to the global supply of the Medtronic CoreValve System, the company added.
News For MDT;EW From The Last 14 Days
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April 14, 2014
10:51 EDTEW, MDTEdwards up after court limits sale of Medtronic's CoreValve in U.S.
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10:30 EDTEWHigh option volume stocks: ZLTQ GLOG RHT SBAC EW
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10:25 EDTEWEdwards Lifesciences rises sharply following court action, upgrades
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10:02 EDTMDTOn The Fly: Analyst Downgrade Summary
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10:00 EDTEWEdwards Lifesciences rises 13.9%
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09:00 EDTMDTMedtronic falls 5.4%
Medtronic is down 5.4%, or $3.20, to $56.00
09:00 EDTEWEdwards Lifesciences rises 11.3%
Edwards Lifesciences is up 11.3%, or $8.28, to $81.25
08:59 EDTEW, MDTOn The Fly: Pre-market Movers
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08:12 EDTEWEdwards Lifesciences price target raised to $90-$91 from $82-$83 at Wells Fargo
Wells Fargo increased its price target on Edwards after a federal court granted a preliminary injunction limiting the sale of a competing product, Medtronic's (MDT) CoreValve. The firm said the injunction was a "major surprise," and estimates that the injunction could increase Edwards EPS by 15c in 2014 and 34c in 2015. Wells keeps an Outperform rating on the stock.
07:39 EDTMDT, EWEdwards Lifesciences upgraded to Buy from Fair Value at CRT Capital
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06:22 EDTMDT, EWMedtronic downgraded to Neutral from Overweight at JPMorgan
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06:21 EDTEW, MDTEdwards Lifesciences upgraded to Neutral from Underweight at JPMorgan
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April 13, 2014
15:10 EDTEW, MDTMedtronic says CoreValve ruling has no impact outside U.S.
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April 12, 2014
19:50 EDTMDT, EWEdwards 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.
April 10, 2014
19:10 EDTMDTMedtronic confirms FDA approval for expanded indications
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16:32 EDTMDTMedtronic gets FDA approval for revised labeling application
The U.S. FDA approved an application from Medtronic for revised labeling for two cardiac resynchronization pacemakers and eight cardiac resynchronization defibrillators, expanding the indication for use to patients with atrioventricular block and less severe heart failure. The FDA previously approved these devices for patients with more severe heart failure as evaluated by their physician using specific criteria. The new approved use includes patients with less severe heart failure, but who are already indicated to receive RV pacing. With the new indication, these patients will be eligible to receive a device that will pace both sides of their heart instead of just the right. Reference Link
April 8, 2014
07:26 EDTMDT, EWElsevier Business Intelligence to hold a conference
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April 7, 2014
07:58 EDTMDTMedtronic data positive for C.R. Bard, says Barclays
Barclays said Medtronic's (MDT) better than expected drug coated balloon data could have a positive class effect that benefits C.R. Bard (BCR). The firm reiterates its Overweight rating C.R. Bard and raised its price target to $165 from $160. Note that BofA/Merrill downgraded C.R. Bard to Neutral from Buy following the Medtronic's news.
07:38 EDTMDTMedtronic data should lead to approval of drug-coated balloon, says Wells Fargo
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April 4, 2014
05:14 EDTEWEdwards Lifesciences INTUITY Elite valve system receives CE Mark
Edwards Lifesciences announced it has received CE Mark for the advanced EDWARDS INTUITY Elite valve system. This next-generation, rapid deployment system facilitates smaller incisions in surgical aortic valve replacement, or AVR, procedures, and is built upon extensive evidence supporting the durability of the Carpentier-Edwards PERIMOUNT heart valve design.
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