Edwards Lifesciences (EW.N) is collaborating with European Union antitrust authorities following their recent inspection of one of its facilities in a European Union member state a week ago, as announced by the U.S. medical device manufacturer on Tuesday.
After Reuters reported the EU investigation, Edwards Lifesciences’ stock initially saw a 2.5% decrease in pre-market trading. However, it has since rebounded and is currently up by 0.8%.
This development highlights the growing regulatory scrutiny faced by the pharmaceutical industry on both sides of the Atlantic. The goal is to ensure that companies can continue to foster innovation and provide products and services at reasonable prices, all while avoiding exclusion from the market by larger competitors. On September 19, the European Commission disclosed that it had conducted a search at a cardiovascular medical device company located in an EU member state due to concerns regarding potential abuse of market power, which could violate the EU’s antitrust regulations. The specific company was not named in the announcement.
Edwards Lifesciences, a renowned global player in the production of medical products for structural heart diseases and recognized for its transcatheter aortic valve replacement (TAVR) device used in heart surgery, has expressed its dedication to promoting healthy and equitable competition. In a statement provided to Reuters, the company affirmed, “Edwards Lifesciences is cooperating with the European Commission regarding its inspection in relation to EU competition law.”
The company concluded by stating, “We remain confident in our business practices and will not be commenting further at this time.”
Source: Reuters
Featured News
Ropes & Gray Welcomes New Partner to Boston Antitrust Practice
Nov 4, 2024 by
CPI
Private Equity Giants Eye Minority Stake in Intel’s Altera Chip Unit
Nov 4, 2024 by
CPI
Michael Jordan’s NASCAR Antitrust Case Kicks Off in Federal Court
Nov 4, 2024 by
CPI
Fifth Circuit Questions FTC’s Authority in Intuit’s Challenge to Internal Adjudication
Nov 4, 2024 by
CPI
EU Antitrust Decision on Novo Holdings’ Catalent Acquisition Set for December
Nov 4, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Remedies Revisited
Oct 30, 2024 by
CPI
Fixing the Fix: Updating Policy on Merger Remedies
Oct 30, 2024 by
CPI
Methodology Matters: The 2017 FTC Remedies Study
Oct 30, 2024 by
CPI
U.S. v. AT&T: Five Lessons for Vertical Merger Enforcement
Oct 30, 2024 by
CPI
The Search for Antitrust Remedies in Tech Leads Beyond Antitrust
Oct 30, 2024 by
CPI