(Corrects headline to anti-copycat policy, not anti-cat policy)
By Foo Yun Chee
BRUSSELS, Feb 16 (Reuters) – U.S. medical device maker Edwards Lifesciences has scrapped its anti-copycat policy that triggered a complaint from an Indian rival, EU antitrust regulators said on Monday as they closed their investigation into the company.
The European Commission, which acts as the EU competition enforcer raided one of Edwards Lifesciences’ facilities in a European Union country in September 2023 on concerns that it may have abused its market power.
Indian rival Meril, which has for years sparred with Edwards Lifesciences over heart valve patents in various courts around the world, had complained to the EU watchdog about Edwards’ global unilateral pro-innovation (anti-copycat) policy.
The Commission said Edwards Lifesciences has now withdrawn its so-called Global Unilateral Pro-Innovation (Anti-Copycatting) Policy (UPIP) and that it is no longer applicable and has been removed from the company’s website.
“After thorough analysis and careful assessment of all evidence gathered and in light of Edwards Lifesciences’ withdrawal of the UPIP, the Commission has concluded that the investigated concerns have been addressed and further action is no longer considered a priority at EU level,” the Commission said in a statement.
Breaches of EU antitrust rules can cost companies fines as much as 10% of their global annual turnover.
(Reporting by Foo Yun Chee)