Edwards Lifesciences
(NYSE: EW)
announced that it will not acquire JenaValve following a legal win by the U.S. Federal Trade Commission (FTC).
Yesterday, Jan. 9, a federal judge in D.C. granted the FTC a preliminary injunction. That put the planned acquisition with a value of $1.2 billion on hold, following months of scrutiny.
Irvine, California–based Edwards agreed to acquire JenaValve in July 2024. JenaValve, which lists its headquarters in Irvine alongside offices in the UK and Germany, develops the Trilogy transcatheter heart valve (THV) system.
In August, the FTC sued to stop the deal from taking place, claiming the acquisition was anti-competitive. The FTC alleged that Edwards and JenaValve represented the only two companies in the U.S. evaluating their transcatheter aortic valve replacement (TAVR) technology for the treatment of aortic regurgitation (AR).
In a press release issued shortly after news of the injunction broke, Edwards confirmed that it will not acquire JenaValve.
“Edwards disagrees with the decision and believes that the acquisition would have been in the best interest of a large, growing and underserved group of patients,” the company said.
In the release, Edwards said it “remains committed to leading the AR therapy for patients in need.” The company said it expects to continue to “deliver novel therapies and world-class evidence to transform patient care. That includes the development of its Sojourn transcatheter valve for AR. Edwards is currently enrolling patients in the JOURNEY pivotal trial for the J-Valve system it acquired from JC Medical.
The company updated its full-year 2026 adjusted EPS guidance for between $2.90 and $3.05 in the wake of the news. It previously projected between $2.80 and $2.95 when accounting for the acquisition.
