PATENTS
$388M for infringement in lost profits, says jury.
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The case involves transcatheter heart-valve technology developed by CoreValve, which California-based Edwards sued in 2008. Medtronic inherited the case when it bought CoreValve in 2009. A jury later decided the company's patents infringed on those held by Edwards.
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"As the long-time leader and innovator in heart valves, Edwards [patent infringement plaintiff] invests in promising early technologies. As a result, Edwards holds a number of important patents in transcatheter valve technology, and we intend to continue to defend this intellectual property when it is used by others without permission. We are proud of our long-standing relationship with Prof. Cribier and other key innovators in transcatheter heart valves, and we continue to work with them today as we develop new transcatheter therapies for patients suffering from heart valve disease," said Larry L. Wood, Edwards' corporate vice president, transcatheter heart valves.
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