Edwards Lifesciences Inc. (NYSE:EW) won a major round in its patent war with Medtronic Inc. (NYSE:MDT) subsidiary CoreValve when a Delaware federal jury ruled that CoreValve willfully infringes an Edwards patent.
Edwards Lifesciences Inc. (NYSE:EW) lost another round in its patent fight against Medtronic Inc. (NYSE:MDT) subsidiary CoreValve Inc. over patents covering catheter heart valves.
Medtronic Inc. (NYSE:MDT) won a round in its patent fight against Edwards Lifesciences Inc. (NYSE:EW), as the medical device giants prepare for a showdown in the U.S. District Court for Delaware in late March over a patent involving an aortic valve replacement.
The Appellate Court of Düsseldorf, Germany, upheld a German lower court’s ruling that Medtronic’s CoreValve transcatheter aortic valve does not infringe on Edwards Lifesciences’s German patent.
The CoreValve system is designed to enable the replacement of a diseased aortic valve without open heart surgery. Edwards claimed the technology infringed on a patent it held in Germany and has filed similar suits in the U.K. and the U.S.
Edwards Lifesciences Corp. (NYSE:EW) posted fourth-quarter sales of $346.7 million for the three months ended Dec. 31, 2009, up 11.9 percent compared with $309.7 million during the same period last year. Net income rose 24.9 percent to $47.6 million, compared with $38.1 million during Q4 2008:
Edwards Lifesciences Reports Strong Fourth Quarter Results
Company Achieves Double Digit Sales Growth
2009 Transcatheter Heart Valve Sales More Than Double to $112 Million
The Food & Drug Administration and Edwards Lifesciences Inc. (NYSE:EW) issued a Class I recall of the Aquarius hemodialysis system after reports came in of "clinically significant fluid imbalance."
The device, used to remove waste products and extra fluid from the blood of patients with kidney failure, is designed to monitor the flow of fluid in and out of patients’ bodies and to trigger an alarm if it detects an imbalance. Patients can override the alarm without fixing the problem that caused it (a kink in the line, for example), causing an increase or decrease in patients’ blood volume.