Healthcare Stocks End Mixed; Edwards LifeScience Rises After Federal Jury Rules Medtronic Infringement


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Healthcare stocks are mixed this afternoon with the NYSE Healthcare Sector Index rising about 0.1% and shares of healthcare companies in the S&P 500 slipping about 0.2% as a group.

In company news, Edwards Lifesciences Corporation today ( EW ) said a federal jury ruled the U.S. patent supporting its Cribier transcatheter heart valve is valid and that Medtronic's CoreValve LLC device willfully infringes it.

Edwards said it will move to enforce this verdict and intends to seek a permanent injunction. The jury also awarded Edwards $394 million in damages, and the willfulness finding allows Edwards to seek increased damages of up to three times that amount, in addition to attorneys' fees.

Medtronic said it plans to appeal the Federal District Court verdict.

EW was up 2.5% near $72.35 a share but is now more than $1 off its day high. It is trading in a 52-week range $60.62 - $94.61. MDT is down 0.1%, but remains near its 52 week high.

In other sector news,

(+) CHTP, FDA advisory panel recommends the company's Northera medication to treat low blood pressure in patients with Parkinson's disease and muscular disorders.

(-) RNN, Agrees to sell 19.05 mln equity units in a $20-mln registered direct offering priced at $1.05 per unit. Each unit has one share of common stock plus a five-year warrant to buy 0.25 of a share exercisable at $1.28 per share.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

Referenced Stocks: EW

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