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MarketScreener Homepage  >  Equities  >  Nyse  >  Abbott Laboratories    ABT

ABBOTT LABORATORIES

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Abbott Laboratories : , Edwards Lifesciences Settle Heart Medical Device Patent Dispute

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07/13/2020 | 05:38pm EDT

By Kimberly Chin

 

Abbott Laboratories and Edwards Lifesciences Corp. on Monday agreed to settle all outstanding patent disputes related to heart valve repair products.

The dispute was over whether Edwards' Pascal transcatheter valve repair system operated in a similar way to Abbott's MitraClip product and infringed on Abbott's patents.

Abbott will receive a one-time payment as part of the settlement, and Edwards said it will incur a one-time expense in the quarter ended in June. Abbott will also receive ongoing payments on Pascal sales through 2025, as well as a possible sales-milestone payment in 2026. Edwards said it will incur royalty expenses through May 2024.

The details of the agreement were confidential, the companies said.

 

Write to Kimberly Chin at kimberly.chin@wsj.com

 

Stocks mentioned in the article
ChangeLast1st jan.
ABBOTT LABORATORIES 0.04% 100.68 Delayed Quote.15.91%
EDWARDS LIFESCIENCES CORPORATION -0.50% 78.02 Delayed Quote.0.33%
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Financials (USD)
Sales 2020 32 812 M - -
Net income 2020 3 903 M - -
Net Debt 2020 12 104 M - -
P/E ratio 2020 45,9x
Yield 2020 1,44%
Capitalization 178 B 178 B -
EV / Sales 2020 5,80x
EV / Sales 2021 5,21x
Nbr of Employees 107 000
Free-Float 88,8%
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Technical analysis trends ABBOTT LABORATORIES
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Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 105,89 $
Last Close Price 100,68 $
Spread / Highest target 24,2%
Spread / Average Target 5,18%
Spread / Lowest Target -20,5%
EPS Revisions
Managers
NameTitle
Robert B. Ford President, CEO, Chief Operating Officer & Director
Miles D. White Executive Chairman
Robert E. Funck Chief Financial Officer & Executive Vice President
Roxanne Schuh Austin Independent Director
Samuel C. Scott Independent Director
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