Boston, MA 04/15/2014 (wallstreetpr) – It is shocking for Medtronic, Inc. (NYSE:MDT) as well as the doctors to learn that a federal court has passed an order preventing the company to sell its new artificial heart valve in the United States. The court’s ruling comes in spite of the fact that the device is considered as a “safer” with “lower risk of death” against the rival device in the market.
Monopoly To Edwards
The Federal court’s ruling on Friday gave a clear monopoly to the competing Edwards Lifesciences Corp. on the sale of its aortic heart valve, which can be implanted in the patients through minimal invasive procedure, instead of open-heart surgery. Medtronic said that it appealed the ruling, but has set a pause on the training of doctors for using the device right now and has asked surgeons to not to carry any new procedures.
Criticized By Doctors
Reportedly, Edwards Lifesciences had filed to seek an injunction on the sale of the devices as it alleged thatMedtonic had infringed its patent, which was later found valid by the jury in 2010. In 2013, when the company’s device was due to be approved by the FDA, Edwards had requested the court to ban Medtronic, Inc. (NYSE:MDT) from selling the devices in the United States. In an oral decision, Judge Gregory M. Sleet cited that though the device has a lower risk and is considered safe, but the patent enforcement rights too stands to compel it to grant decision in favor of Edwards. However, the Judge granted one exception to his ruling, which is that Medtronic can sell its device to patients who have intolerance to Edwards device.
The decision does not bode well with the doctors, according to whom, it is not justifiable to deny patients with valve that has been proved to be superior to the Edwards. The ruling will take its effect within seven business days and would remain in effect till Edwards’ patent reach expiration. In the meanwhile, Medtronic, Inc. (NYSE:MDT) has filed an appeal in the appeals court and has requested the injunction to be delayed until a clear guidance comes from the appeals court.
