Edwards Lifesciences's TAVR Sales Soared in Q2

Sales of Edwards's transcatheter heart valve therapy products grew nearly 50% over the same quarter last year, according to the company's most recent earnings report.

Qmed Staff

Edwards Lifesciences's financial performance in the second quarter of 2016 exceeded leadership's expectations thanks in part to strong sales of the company's transcatheter heart valve therapy products.

The Irvine, CA-based company's overall sales grew 23.1% in the quarter ended June 30, 2016, and worldwide sales of its transcatheter heart valve products were up 48.7% over the same period a year ago, climbing to $418.6 million. Transcatheter heart valve therapy sales were especially strong in the United States, where they rose 71.5% over the same period in 2015.   

"We are very pleased to report strong second quarter performance, which reflected significant growth in the number of patients and physicians choosing transcatheter heart valve therapy," Michael A. Mussallem, Edwards's chairman and CEO, said in a statement.  "Our results this quarter were better than expected, driving strong top and bottom line growth."

Mussallem added that transcatheter heart valve therapy is gaining traction in hospitals of all sizes and credited positive clinical results for driving adoption. He said Edwards has received positive feedback from clinicians regarding data presented at the American College of Cardiology 2016 Scientific Session in April that showed high-risk patients who underwent transcatheter aortic valve replacement with the company's second-generation Sapien XT system for treatment of aortic stenosis had a similar rate of death as those who underwent surgical aortic valve replacement. Edwards's third-generation Sapien 3 valve was green-lit by FDA in June 2015.

While transcatheter heart valve therapy sales soared, the company's surgical heart valve therapy sales dropped 2.6% compared with the same quarter last year.

Edwards also disclosed an increase in R&D spending of more than 15% over the second quarter of 2015, driven by investment in the company's TAVR and transcatheter mitral valve programs.

[image courtesy of EDWARDS LIFESCIENCES]