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Edwards Lifesciences Corp. (NYSE: EW) earned $226 million on sales of $907 million in its most recent quarter. Sales rose 10% year-over-year but missed expectations and its shares dipped 2% to a $30 billion market cap.
The Irvine-based maker of devices for structural heart disease and critical care monitoring said its flagship transcatheter heart valve therapy products’ sales rose 16% in the quarter to $558 million.
Edwards has begun selling a self-expanding transcatheter heart valve, called Centera, in Europe and Chief Executive Mike Mussallem said Edwards is also on-track to receive regulatory approval in Europe this year for Ultra, its next-generation Sapien 3 transactheter heart valve.
Competitor Boston Scientific in a German court today won a preliminary injunction on future commercial sales of Ultra but a clinical study can continue and Edwards said it plans to appeal and “believes it will ultimately prevail.”
In the U.S., Edwards began a pivotal study of its Pascal mitral repair system, another new product.