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April 21, 2014
09:09 EDTMDT, EWMedtronic reports court to expedite appeal in Edwards Lifesciences case
Medtronic (MDT) issued an updated statement on the recent ruling by Federal District Court of Delaware. The ruling granted in part Edwards Lifesciences' (EW) motion for a preliminary injunction that prevents Medtronic from selling or offering to sell its CoreValve System in the U.S., except through a mechanism that Medtronic is pursuing with Edwards Lifesciences that would allow currently trained sites to treat patients with CoreValve based on a physician's medical judgment. The injunction will go into effect on April 23. Medtronic has asked the U.S. Circuit Court of Appeals to postpone the injunction until it can determine if the injunction was properly issued. The Court has not yet ruled. Medtronic also requested, and the Court agreed to, an expedited appeal of the injunction ruling, and other underlying legal issues, with the last appeal brief to be submitted by June 19. Medtronic does not believe Edwards Lifesciences, which brought the motion for a preliminary injunction, has met the standards needed for an injunction, particularly with respect to the impact it will have on the public health interest. As written in the District Court order, Medtronic and Edwards Lifesciences have entered into discussions in an effort to agree on a mechanism that will enable physicians at facilities currently trained on CoreValve 'to make clinical, patient-by-patient determinations as to whether to implant without being constrained by the number of CoreValve...available.' On May 21, Medtronic and Edwards are to report the status of these discussions to the District Court, but if an agreement is reached before that time, it may be implemented.
News For MDT;EW From The Last 14 Days
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July 25, 2014
06:30 EDTMDTObama calls on Congress to end inversion deals, NY Times reports
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July 24, 2014
08:19 EDTMDTLeerink medical devices analyst holds an analyst/industry conference call
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July 22, 2014
07:57 EDTEWHouse Energy & Commerce Committee to hold a hearing
The Subcommittee on Health holds a hearing entitled, "21st Century Cures: Examining Barriers to Ongoing Evidence Development and Communication" with CEO Mussallem at Edwards Lifesciences on July 22 at 3 pm. Webcast Link
July 21, 2014
08:16 EDTMDTDeutsche Bank analysts hold an analyst/industry conference call
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July 18, 2014
12:51 EDTMDTKey GOP senator signals readiness for inversion deal, The Hill says
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July 16, 2014
10:36 EDTMDTTreasury calls on Congress to halt inversion deals
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07:59 EDTMDTTreasury Secretary urges Congress to take action on tax inversions
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07:18 EDTMDTScoliosis Research Society to hold annual meeting
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July 14, 2014
07:12 EDTMDTCovidien downgraded to Neutral from Overweight at Piper Jaffray
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