U.S. Appeals Court Affirms Medtronic's Willful Infringement of Edwards' Transcatheter Valve Patent
IRVINE, CA -- (Marketwire) -- 11/13/12 -- Edwards Lifesciences Corporation (NYSE: EW), the global leader in the science of heart valves and hemodynamic monitoring, announced that the U.S. Court of Appeals for the Federal Circuit today affirmed an April 2010 federal jury decision that Medtronic CoreValve LLC is willfully infringing Edwards' U.S. Andersen transcatheter heart valve patent. The Appeals Court also ordered the trial court to reconsider Edwards' request for a permanent injunction that would prohibit the manufacture and sale of the CoreValve System in the United States.
In addition, the Court affirmed the validity of this patent and the federal jury's verdict awarding an initial payment of $74 million in damages to Edwards, which covers infringement through early 2010. Edwards anticipates that further proceedings by the U.S. District Court for the District of Delaware will require Medtronic to pay substantial additional damages accumulated after the verdict was issued.
"We are very pleased that the appeals court has confirmed that Medtronic CoreValve is illegally using Edwards' transcatheter valve technology. We believe this is a decisive milestone toward final resolution of this matter, given that we have a clear jury verdict that has been affirmed by both the District Court and now the U.S. Court of Appeals," said Aimee S. Weisner, Edwards' corporate vice president, general counsel.
The patent involved in this suit is part of the Andersen family of patents, which relates to a valve prosthesis for implantation by means of a catheter. A petition has been filed with the United States Patent and Trademark Office to extend this patent to 2017.
About Edwards Lifesciences (EW)
Edwards Lifesciences is the global leader in the science of heart valves and hemodynamic monitoring. Driven by a passion to help patients, the company partners with clinicians to develop innovative technologies in the areas of structural heart disease and critical care monitoring that enable them to save and enhance lives. Additional company information can be found at www.edwards.com.
This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements include, but are not limited to, statements made by Ms. Weisner and statements regarding the outcome of future legal proceedings and the expected patent term extension. Forward-looking statements are based on estimates and assumptions made by management of the company and are believed to be reasonable, though they are inherently uncertain and difficult to predict. Our forward-looking statements speak only as of the date on which they are made and we do not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of the statement.
Forward-looking statements involve risks and uncertainties that could cause the outcomes to differ materially from those expressed or implied by the forward-looking statements based on a number of factors including but not limited to unexpected developments in the patent office with respect to extension of the Andersen patent and the unpredictability of future decisions at the trial court level. These factors are detailed in the company's filings with the Securities and Exchange Commission including its Annual Report on Form 10-K for the year ended December 31, 2011.
Edwards is a trademark of Edwards Lifesciences Corporation. Edwards Lifesciences and the stylized E logo trademarks of Edwards Lifesciences Corporation and are registered in the United States Patent and Trademark Office.
Media Contact: Sarah Huoh or Janet Kim 949-250-5070 Investor Contact: David K. Erickson 949-250-6826
Source: Edwards Lifesciences