According to reports, Edwards Lifesciences
(NYSE: EW)
is the company under scrutiny in Europe for potential antitrust activity.
Reuters reports that the company is working with EU antitrust regulators on the matter. The European Commission said last week that it conducted a surprise inspection at an undisclosed medtech company. It listed that company as active in the cardiovascular space, an area in which Edwards operates. Edwards is one of the market leaders in replacement heart valves, including transcatheter aortic valve replacement (TAVR) technology.
The report says Edwards confirmed itself to Reuters as the company inspected by the European officials. Edwards’ statement to the outlet said it is cooperating with the European Commission and remains confident in its business practices. The company also reportedly told Reuters that it remains committed to healthy, fair competition.
According to a news release posted on the Commission’s website, the regulator has concerns that Edwards may have violated EU antitrust rules. Those rules prohibit abuses of a dominant market position.
Recent crackdowns on anti-competitive activity perhaps demonstrate a trend in the space, with Edwards the latest company subject to it. The European Commission itself recently levied a major fine to Illumina for its attempted merger with cancer detection company Grail.
The commission fined the company approximately $478.9 million (€432 million) for completing the merger before the Commission determined if it was anti-competitive. Within weeks of the deal closing, the European Commission declared it anti-competitive. Illumina also faces scrutiny in the U.S.