Medtronic to appeal $392M award over heart valve

|About: Medtronic plc (MDT)|By:, SA News Editor

Medtronic (MDT) intends to appeal a jury's ruling that the company pay Edwards Lifesciences (EW) $392M after finding that Medtronic's CoreValve heart device willfully infringes patents that Edwards holds for its Cribier transcatheter.

The "willful breach" means that Edwards can seek increased damages of up to three times the amount awarded.

Edwards intends to ask a judge to stop Medtronic from selling CoreValve heart device in the U.S. The latter had planned to begin sales in April, pending FDA approval. Both companies' products are already sold outside the U.S. (PR)