Edwards Lifesciences Confirms Appeals Court Ruling of Medtronic's Willful Infringement of Transcatheter Valve Patent
Edwards Lifesciences Corporation (NYSE: EW) announced that the U.S. Court of Appeals for the Federal Circuit today affirmed an April 2010 federal jury decision that Medtronic (NYSE: MDT) 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.
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