Edwards Declares Victory In Transcatheter Mitral Valve Contract Suit

A jury recommended a $70m award to Edwards Lifesciences unit CardiAQ based on findings that another firm, Neovasc, breached a supplier contract and used CardiAQ's trade secrets to develop a competing transcatheter mitral valve device.

A jury in Boston has recommended that Neovasc Inc. pay Edwards Lifesciences Corp. subsidiary CardiAQ Valve Technologies Inc. $70m in damages to resolve a two-year old lawsuit, Edwards announced May 19.

The jury in the United States District Court for the District Of Massachusetts said Neovasc breached a nondisclosure agreement while it was a supplier for CardiAQ, misappropriated CardiAQ’s trade secrets...

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