Jan 9 (Reuters) - The U.S. Federal Trade Commission won a ruling on Friday blocking Edwards Lifesciences' acquisition of JenaValve Technology, court records showed.
The FTC sued in August, saying the deal
would decrease competition in the market for a device meant to treat a potentially fatal heart condition.
"This is a major win for the Trump-Vance administration," said FTC spokesperson Joe Simonson. "We will never stop working to promote innovation, lowering healthcare costs, and saving American lives."
In a statement late on Friday, Edwards said it will not proceed with the deal but "disagrees with the (court's) decision and believes that the acquisition would have been in the best interest of a large, growing and underserved group of patients."
The medical device maker also raised its full-year 2026 adjusted earnings per share outlook. It now sees it between $2.90 and $3.05 per share from its prior range of $2.80 to $2.95 apiece.
Judge Rudolph Contreras in Washington said he had granted the FTC's request, but the opinion explaining his reasoning will be sealed until the companies have a chance to propose a public version that protects their confidential information.
In its lawsuit, the FTC said Edwards and JenaValve are the only two companies in the United States conducting clinical trials for the use of transcatheter aortic valve replacement systems to treat aortic regurgitation, a condition in which the heart's aortic valve does not close properly.
Edwards' flagship TAVR system for patients with aortic stenosis brought in $1.15 billion in the third quarter.
(Reporting by Jody Godoy in New York and Preetika Parashuraman in Bengaluru, Editing by Franklin Paul, Bill Berkrot and Alan Barona)
