(Reuters) -The U.S. Federal Trade Commission has sued to block Edwards Lifesciences Corp's acquisition of JenaValve Technology Inc, saying in a lawsuit filed in Washington on Wednesday that the merger would decrease competition in the market for a device meant to treat a potentially fatal heart condition.
Edwards and JenaValve are the only two companies in the United States currently conducting clinical trials on transcatheter aortic valve replacement devices, which are used to treat a condition called
aortic regurgitation where the heart’s aortic valve does not close properly, the FTC said in its lawsuit.
“The FTC is taking action to stop this anticompetitive deal and ensure that JenaValve and Edwards’ JC Medical subsidiary continue competing to innovate, expand treatment eligibility, and keep down costs,” Daniel Guarnera, head of the FTC’s bureau of competition, said in a statement.
Edwards said it "disagrees with FTC’s decision and believes it will limit the availability of an important treatment option for patients suffering from aortic regurgitation." It expects a final outcome by early 2026.
JennaValve said it remains confident in its rationale for the transaction. It said it will defend the deal in court alongside Edwards.
Edwards announced the deal in July 2024, along with its acquisition of another heart valve maker, Endotronix. The deals, together valued at approximately $1.2 billion, were aimed at expanding its portfolio of structural heart disease treatments.
(Reporting by Jody Godoy in New York; Editing by Emelia Sithole-Matarise and Mark Porter)