Now Edwards will get the piece of the action. Medtronic claims that the CoreValve platform has lower stroke and paravalvular leak rates than any transcatheter aortic valve replacement (TAVR) device commercially available internationally. "The good news about settling this long-going patent litigation between ourselves and Edwards is now both of us can focus on growing the market and investing in growing the market versus investing in fighting each other," Ellis said. Now with the Edwards legal matters behind us, we expect revenue to continue to ramp, as we are able to open new centers and train physicians," Medtronic chief financial officer Gary Ellis said in a quarterly earnings call with analysts, transcribed by Seeking Alpha. In the US, we have had a strong initial launch with center activations tracking to our forecast. "We estimate that the global TAVR market is growing in the high teens. Top executives at Medtronic argue the settlement will be good for the company in the long-run. Mussallem, Edwards' chairman and CEO, said in a news release. This agreement allows us to move forward, fully dedicating our time and resources to helping patients," Michael A. "We are pleased to reach an agreement that preserves physician choice while also recognizing Edwards' leadership in pioneering the transcatheter heart valves that are chosen most often by physicians worldwide. (A number of TAVR products are available in Europe.) Medtronic's CoreValve launched in the United States in January after FDA approval, and marked a direct challenge to Edwards's Sapien valve, which had been the only TAVR product offered in the United States. Neither admitted in the settlement that their products infringe any patents or that any patents are invalid. The two medical device giants have also agreed not to litigate patent disputes with each other in the field of transcatheter valves for the eight-year duration of the agreement.
MEDTRONIC INFUSE LAWSUIT SETTLEMENT AMOUNTS LICENSE
Medtronic announced Tuesday that it has agreed to pay Edwards a $750 million payment upfront-and between $320 million and $480 million in license royalty payments over the next eight years-to settle all pending cases or appeals in courts and patent offices around the world. Medtronic officials have apparently decided that spending more than $1 billion over the next eight years is worth it when it comes to ending a transcatheter heart valves patent battle with Edwards Lifesciences that threatened to stall U.S.
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