Seeking Alpha

Medtronic seeks postponement of injunction

  • With the injunction preventing Medtronic (MDT) from selling its CoreValve System taking effect in just a few days on April 23, the company asks the U.S. Court of Appeals to postpone the order until the firm can determine if the injunction was properly issued. The Court has yet to rule but it did grant its request for an expedited review of its appeal.
  • The firm and Edwards Lifesciences (EW) are currently negotiating a mechanism whereby clinicians currently trained on CoreValve can make patient-specific decisions regarding whether to implant Medtronic's device or Edwards' without being constrained by CoreValve's availability. The companies must report their status on the issue to the Court on May 21 although they can implement a plan earlier based on mutual agreement.
  • Medtronic believes that Edwards and the Court have inappropriately applied provisions of patent term extension regarding the Anderson '552 patent which expired in May 2012.
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