IRVINE, Calif., July 13, 2020 /PRNewswire/ -- Edwards
Lifesciences Corporation (NYSE: EW), the global leader in
patient-focused innovations for structural heart disease and
critical care monitoring, today announced that it has reached an
agreement with Abbott to settle all outstanding patent disputes
between the companies in cases related to transcatheter mitral and
tricuspid repair products. Edwards considers this agreement a
positive development, as it allows the company to fully dedicate
time and resources to helping patients.
The agreement will result in the dismissal of all pending cases
or appeals in courts and patent offices worldwide, and includes a
provision that the parties will not litigate patent disputes with
each other in the field of transcatheter mitral and tricuspid
repair and replacement products for the 10-year duration of the
agreement. Any injunctions currently in place will be lifted.
In connection with this agreement, Edwards will record a
one-time settlement expense in the quarter ended June 30, 2020. In addition, Edwards will incur
royalty expenses through May
2024.
Details of the settlement are confidential.
About Edwards Lifesciences
Edwards Lifesciences, based in Irvine, Calif., is the
global leader of patient-focused medical innovations for structural
heart disease and critical care monitoring. We are driven by a
passion for patients, dedicated to improving and enhancing lives
through partnerships with clinicians and stakeholders across the
global healthcare landscape. For more information, visit
Edwards.com and follow us on Facebook, Instagram, LinkedIn, Twitter
and YouTube.
This news release includes forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. These forward-looking
statements include, but are not limited to statements regarding
expectations for the agreement's impacts. Forward-looking
statements are based on estimates and assumptions made by
management of the company and are believed to be reasonable, though
they are inherently uncertain and difficult to predict. Our
forward-looking statements speak only as of the date on which they
are made, and we do not undertake any obligation to update any
forward-looking statement to reflect events or circumstances after
the date of the statement. Investors are cautioned not to
unduly rely on such forward-looking statements.
Forward-looking statements involve risks and uncertainties that
could cause results to differ materially from those expressed or
implied by the forward-looking statements based on a number of
factors as detailed in the company's filings with the Securities
and Exchange Commission including its Annual Report on Form 10-K
for the year ended December 31, 2019
and the Quarterly Report on Form 10-Q for the quarter ended
March 31, 2020. These filings, along
with important safety information about our products, may be found
at edwards.com.
Edwards, Edwards Lifesciences and the stylized E logo are
trademarks of Edwards Lifesciences Corporation. All other
trademarks are the property of their respective owners. This
statement is made on behalf of Edwards Lifesciences Corporation and
its subsidiaries.
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SOURCE Edwards Lifesciences Corporation