logo
  Join        Login             Stock Quote

Edwards Lifesciences (EW): Appeals Court Affirms Infringement Judgment Against Medtronic (MDT)

 November 13, 2012 02:33 PM
 


(By Balachander) Edwards Lifesciences Corp. (NYSE: EW) said an appeals court confirmed that Medtronic Inc.'s (NYSE: MDT) CoreValve system is illegally using Edwards' transcatheter valve technology.

The appeals court upheld the judgment by a federal court in Delaware that Medtronic's device infringed Edwards' transcatheter valve technology. The appeals court affirmed the federal jury's verdict awarding an initial payment of $74 million in damages to Edwards, which covers infringement through early 2010.

In addition, the appeals court 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.

[Related -Medtronic, Inc. (MDT): Turning The Beat Around?]

Edwards expects that further proceedings by the U.S. District Court for the District of Delaware will require Medtronic to pay substantial additional damages accumulated after the verdict was issued.

The patent involved in this suit is part of the Andersen family of patents, which relates to a valve prosthesis for implantation by means of a catheter.

EW shares traded 1.66 percent higher at $88.10 on Tuesday. MDT shares added 0.41 percent.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageLadenburg Thalmann Financial Services (NYSEMKT:LTS): Heavy, Durable Insider Buying

Ahh, but any worries over price levels didn’t stop multiple insiders at Ladenburg Thalmann Financial read on...

article imageInternational Business Machines Corp. (IBM) Q2 Earnings Preview: Small Beat and Pop

International Business Machines Corp. (NYSE:IBM) will host a conference call Wednesday, Jul. 16, 2014 at read on...

article imageGoogle Inc. (GOOGL) Q2 Earnings Preview: A Few Pennies Either Way Make a Big Difference.

Google Inc. (NASDAQ:GOOGL) will hold its quarterly conference call to discuss second quarter 2014 financial read on...

article image19 Companies That Could Beat Earnings and Pop on Price Next Week

Using iStock’s proprietary iEstimates model, we have identified 19 publicly traded companies that could read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.