Edwards Lifesciences Hit by EU Antitrust Violation Investigation

The EU commission targeted Edwards Lifesciences with surprise raids last month.

It was warranted on the back of Article 102 of the Treaty on the Functioning of the European Union, which forbids the misuse of a controlling market position; the raid was carried out as part of an inquiry into misconduct and violations of EU antitrust laws.

Edwards Lifesciences released the following statement: “Edwards Lifesciences is cooperating with the European Commission regarding its inspection in relation to EU competition law. We have an unwavering commitment to healthy, fair competition; when innovative companies like ours compete, patients benefit. We remain confident in our business practices and will not be commenting further at this time.”

The investigation’s objective was not identified in the initial declaration from the EU commission, which provided only cursory information on the action. The company’s expertise in cardiovascular applications for medical devices was only hinted to in the announcement.

The maximum penalties that Edwards Lifesciences might receive for breaking EU antitrust laws is 10% of its annual revenue.

The news was initially reported by Reuters, who also noted that Edwards Lifesciences’ shares fell 2.5% in pre-market activity as a result.

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