Abbott Agrees to Global Transcatheter Litigation Settlement with Edwards Lifesciences - Jul 13, 2020
Mother and son jogging Mother and son jogging Mother and son jogging Mother and son jogging
Abbott Agrees to Global Transcatheter Litigation Settlement with Edwards Lifesciences

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.

SOURCE Abbott

For further information: Abbott Media: Darcy Ross, (224) 667-3655; Abbott Financial: Scott Leinenweber, (224) 668-0791
true
accessibility

You are about to exit for another Abbott country or region specific website

Please be aware that the website you have requested is intended for the residents of a particular country or countries, as noted on that site. As a result, the site may contain information on pharmaceuticals, medical devices and other products or uses of those products that are not approved in other countries or regions.


The website you have requested also may not be optimized for your specific screen size.

Do you wish to continue and exit this website?

accessibility

You are about to exit the Abbott family of websites for a 3rd party website

Links which take you out of Abbott worldwide websites are not under the control of Abbott, and Abbott is not responsible for the contents of any such site or any further links from such site. Abbott is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement of the linked site by Abbott.


The website that you have requested also may not be optimized for your screen size.

Do you wish to continue and exit this website?