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|Medtronic Issues Statement on Court of Appeals Ruling|
MINNEAPOLIS – November 13, 2012 – The Federal Circuit Court of Appeals has affirmed the April 2010 jury verdict from the Federal District Court of Delaware that the CoreValve® System infringed a single Andersen patent held by Edwards Lifesciences. The Court of Appeals also remanded the case back to the District Court to consider a potential injunction. While Medtronic respects the court’s ruling, we respectfully disagree with this conclusion and we are evaluating next steps.
These legal actions have no impact on the Medtronic CoreValve U.S. Pivotal Trial, the Medtronic CoreValve SURTAVI Trial, or any other clinical studies evaluating the CoreValve System. Due to its global manufacturing capabilities, Medtronic does not anticipate any interruption to the global supply of the Medtronic CoreValve System.
While Edwards has applied for a patent extension, there is no assurance an extension will be issued or what the impact or duration of that extension would be. These applications involve a review by two government agencies, and the process often can take between 2 and 5 years.
Any forward-looking statements are subject to risks and uncertainties such as those described in Medtronic’s periodic reports on file with the Securities and Exchange Commission. Actual results may differ materially from anticipated results.
-end-Medtronic Media Contacts:
Kathleen Janasz, Public Relations, 763-526-3676
Jeff Warren, Investor Relations, 763-505-2696