Appeals court upholds $74M Edwards Lifesciences win over Medtronic
Edwards Lifesciences can ask a judge to keep Medtronic's CoreValve replacement heart valve off the U.S. market, after a federal appeals court upholds a $74 million patent win and orders a lower court judge to reconsider an injunction against CoreValve.
The battle for the U.S. heart valve replacement market may have shifted in Edwards Lifesciences' (NYSE:EW) favor today, after a federal appeals court today upheld a $74 million legal win for Edwards over Medtronic (NYSE:MDT) in a patent infringement case.
The decision could see Edwards successfully Medtronic's CoreValve replacement heart valve from the U.S. market, where its Sapien valve is the only approved device for transcatheter aortic valve implantation.
Edwards and CoreValve Inc. began the patent spat when the Irvine, Calif.-based rivals filed suit against each other in 2007. Medtronic inherited the beef when it purchased CoreValve in April 2009 for about $700 million.