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Thursday, Dec 1, 2022
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Edwards, Boston Scientific Reach Deal

Shares of Edwards Lifesciences Corp. (NYSE: EW) climbed after the largest publicly traded company based in Orange County reached a settlement with rival Boston Scientific Corp. (NYSE: BSX).

The two companies settled all outstanding patent disputes between them in all venues around the world.

“All pending cases or appeals in courts and patent offices between the two companies will be dismissed,” the companies said in a joint statement.

Any injunctions currently in place will be lifted and the parties will not litigate patent disputes related to current portfolios of transcatheter aortic valves, certain mitral valve repair devices and left atrial appendage closure devices.

Irvine-based Edwards agreed to make a one-time payment of $180 million to Boston Scientific. No further royalties will be owed by either party under the agreement. All other terms remain confidential.

Edwards shares climbed 7.5% to $160.65 and a $33.6 billion market cap. Shares of Marlborough, Mass.-based Boston Scientific increased 3.7% to $36.60 and a $50.7 billion market cap.

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Peter J. Brennan
Peter J. Brennan
Peter J. Brennan has been a journalist for 40 years. He spent a decade in Latin America covering wars, narcotic traffickers, earthquakes, and business. His resume includes 15 years at Bloomberg News where his headlines and articles sometimes moved the market caps of companies he covered by hundreds of millions of dollars. His articles have been published worldwide, including the New York Times and the Washington Post; he's appeared on CNN, CBC, BBC, and Bloomberg TV. He was awarded a Kiplinger Fellowship at The Ohio State University.
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