ABBOTT PARK, Ill., July 13, 2020
/PRNewswire/ -- Abbott (NYSE: ABT) announced today it has
reached an agreement with Edwards Lifesciences Corporation to
settle all outstanding patent disputes between the companies in
cases related to transcatheter mitral and tricuspid repair
products.
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. The injunctions currently in place against the sale of
Edwards' transcatheter mitral and tricuspid repair system will be
lifted.
In connection with this agreement, Abbott will receive a
one-time payment and ongoing payments based on Pascal sales through
2025 as well as a potential sales milestone payment in 2026.
Details of the settlement are confidential.
About Abbott:
Abbott is a global healthcare leader that helps people live more
fully at all stages of life. Our portfolio of life-changing
technologies spans the spectrum of healthcare, with leading
businesses and products in diagnostics, medical devices,
nutritionals and branded generic medicines. Our 107,000 colleagues
serve people in more than 160 countries.
Connect with us at www.abbott.com, on LinkedIn
at www.linkedin.com/company/abbott-/, on Facebook
at www.facebook.com/Abbott and on Twitter @AbbottNews and
@AbbottGlobal.
View original
content:http://www.prnewswire.com/news-releases/abbott-agrees-to-global-transcatheter-litigation-settlement-with-edwards-lifesciences-301092459.html
SOURCE Abbott