U.S. court awards Edwards damages in Medtronic patent fight

Wed Jan 15, 2014 1:01pm EST

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(Reuters) - Medtronic Inc said a U.S. jury ruled that its heart valve implant infringed a patent held by Edward Lifesciences Corp and awarded Edwards $392.5 million in damages.

Medtronic said it would appeal the ruling made by a jury in the Federal District Court of Delaware.

The medical device maker said it would oppose any request for an injunction by Edwards.

Medtronic said it expected U.S. approval for the CoreValve heart implant system by the end of its fiscal year ending April 2014.

Edwards shares rose as much as 4 percent to $73.42 on Wednesday on the New York Stock Exchange. Medtronic shares were up slightly at $59.64.

(The story corrects time period in paragraph 4 to end of fiscal year from end 2014)

(Reporting by Vrinda Manocha in Bangalore; Editing by Kirti Pandey)

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