The European Commission announced that it has closed its antitrust investigation into Edwards Lifesciences (NYSE: EW) .
In September 2023, the European Commission said it conducted a surprise inspection at the facility of a maker of cardiac devices. Edwards later revealed itself as the company subject to that inspection, announcing full cooperation with the Commission.
It was later revealed that the investigation took place due to patent practices and policy against so-called “copycat devices.” In addition to valve replacement patents, Edwards faced scrutiny over its global unilateral pro-innovation (anti-copycat) policy. That went into effect in November 2019, aiming to end its support to what it considers copycat companies. That includes those who “largely copy, reverse engineer and duplicate innovate devices.”
The European Commission said its probe looked at whether the policy limited physicians’ freedom to participate in clinical trials and other scientific and educational activities sponsored or supported by a competing manufacturer of transcatheter aortic valve implantation (TAVI) devices.
However, the Commission elected to formally close the investigation after Edwards withdrew this policy.
“After thorough analysis and careful assessment of all evidence gathered and in light of Edwards Lifesciences’ withdrawal of the UPIP, the Commission has concluded that the investigated concerns have been addressed and further action is no longer considered a priority at EU level,” the European Commission wrote.
“The closure of the investigation is not a finding that the conduct in question complied with EU competition rules.”
Scrutiny of anti-competitive behavior has caused Edwards trouble recently, as the heart valve replacement leader lost a recent legal battle with the U.S. Federal Trade Commission (FTC). As a result, Edwards had to back out of a planned $1.2 billion acquisition of fellow valve maker JenaValve.
