Edwards and Medtronic settle patent fight

|About: Edwards Lifesciences Corp (EW)|By:, SA News Editor

Edwards Lifesciences (EW) and Medtronic (MDT) settle their patent disputes regarding transcatheter heart valves. They agree to dismiss all pending cases and appeals in courts and patent offices worldwide and not litigate patent disputes between them in the field of transcatheter valves for the duration of the eight-year term of the settlement.

Under the terms of the agreement, Medtronic will make a one-time payment to Edwards of $750M and make quarterly royalty payments through April 2022 based on a percentage of Medtronic CoreValve sales subject to a minimum of $40M/year.

Edwards will contribute $50M from the settlement to its Every Heartbeat Matters philanthropic program.