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Medtronic Issues Statement on Ruling in Germany Regarding Patent Infringement

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Today a court in Mannheim Germany found that Medtronic's CoreValve® System infringes a patent owned by Edwards Lifesciences (NYSE: EW). Medtronic, Inc. (NYSE: MDT) respectfully disagrees with the court's decision and intends to appeal. The court's decision will limit options for physicians and their patients who need transcatheter aortic valve procedures, which Medtronic believes is contrary to sound health policy. In a separate European Patent Office proceeding, Medtronic and others have challenged the validity of the Spenser patent. Ultimately, Medtronic believes that Edwards' patent claims will be found to be invalid, which will negate today's ruling of patent infringement. Today's decision affects commercial sales of the CoreValve System only in Germany. These actions have no impact in any market on the Medtronic Engager(TM) Transcatheter Valve, the Melody® Pulmonic Transcatheter Valve, or any other Medtronic product. Due to its global manufacturing capabilities, Medtronic does not anticipate any interruption to the global supply of the Medtronic CoreValve System outside of Germany. The Company's revenue from the affected products in Germany was less than 0.5 percent of its total revenue in fiscal year 2013. The Company does not

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Posted-In: News Guidance Global

 

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