Edwards Lifesciences Corporation (NYSE: EW - News), the world leader in heart valve technologies, announced today that the company has entered into an agreement with St. Jude Medical, Inc., resolving patent infringement litigation initiated by Edwards in June 2000 related to certain Edwards patents in the areas of heart valve repair and replacement. The litigation, filed in the U.S. District Court in California and the Federal Court of Canada in Ontario, has been dismissed. Under terms of the settlement, Edwards will receive a one-time cash payment of $5.5 million and St. Jude will receive paid-up licenses for certain of its heart valve therapy products. Further details of the settlement were not disclosed. The settlement will not have a material financial impact to Edwards.

Posted by GEN-ERIC at 01:12:33 am into the following categories: In The News

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