After a patent dispute that led to numerous lawsuits, Edward Lifesciences and Abbott have reached an agreement to settle all ongoing litigation related to transcatheter mitral and tricuspid repair solutions.
Edwards’ PASCAL transcatheter mitral valve repair system and Abbott’s MitraClip transcatheter mitral valve repair system—and the perceived similarities between the two—were at the center of the dispute.
In a statement announcing the news, Edwards said it “considers this agreement a positive development, as it allows the company to fully dedicate time and resources to helping patients.”
The agreement states that all pending cases and appeals related to this dispute will now be dismissed. There is also a provision that ensures the companies will not begin any new cases or appeals related to transcatheter mitral and tricuspid repair solutions for 10 years.
Financial details of the settlement are confidential, but “Edwards will record a one-time settlement expense.”
As of this writing, Abbott has not commented on the agreement.
Michael has more than 16 years of experience as a professional writer and editor. He has written at length about cardiology, radiology, artificial intelligence and other key healthcare topics.