Edwards, Abbott Settle Mitral Repair Patent Cases
Edwards Lifesciences is paying Abbott Laboratories to settle disputes over patents on transcatheter mitral and tricuspid repair products.
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The company recorded $925m in revenue in the second quarter of 2020, exceeding the top end of its previous guidance, and expects to return to growth by the end of the year.
Abbott’s medical device sales were down about 20% year-over-year in the second quarter of 2020, but diagnostics sales were up 7%. Procedure trends at the end of the second quarter suggest that demand for devices will soon recover to pre-pandemic levels.
Edwards Lifesciences received the CE mark for its PASCAL transcatheter system for treating triscupid valve regurgitation, competing against Abbott’s newly CE-marked TriClip.