Sam Brusco, Associate Editor12.09.21
Edwards Lifesciences discussed the company’s long-term growth strategy and technology pipeline at yesterday’s annual investor conference.
The firm projected sales $5.5 – $6 billion with underlying growth in the low double-digits. 2022 TAVR sales were predicted to be $3.7 – $4 billion next year, with 12-15 percent growth. TMTT (transcatheter mitral and tricuspid therapies) is expected to garner $140 - $170 million. Estimated 2022 adjusted earnings per share were $2.50 - $2.65, and R&D expenses are planned to be 17-18 percent of sales. Meaningful progress will be made on seven TAVR and TMTT trials, and global market opportunity across four product groups is expected to double to almost $20 million by 2028.
"In 2021, our therapies are benefitting more patients than ever before. We are delivering results and making significant progress on our milestones to drive future success," Michael A. Mussallem, Edwards chairman and CEO told the press. "In 2022, we are projecting another year of double-digit top-line and bottom-line growth while we continue to aggressively pursue breakthrough therapies for millions of patients suffering from structural heart diseases. During the year, we look forward to significant milestones, including new product launches, and progress on multiple significant clinical trials. We remain confident that our innovative therapies will continue to drive strong organic growth in the years to come, and we're just getting started."
Expected 2022 milestones include continued Sapien 3 Ultra adoption, as well as the EARLY TAVR trial for severe aortic stenosis prior to symptoms. There will be further enrollment in the PROGRESS trial to study treatment of moderate aortic stenosis patients. The ALLIANCE pivotal trial for the next-gen Sapien X4 is also planned.
Milestone for next year include U.S. Pascal approval for degenerative mitral regurgitation and European Evoque tricuspid valve approval. Enrollment for the TRISCEND II Evoque trial will continue, as well as enrollment in the MISCEND trial for the Sapien M3 mitral valve.
The company aims to broaden adoption of its flagship Inspiris Resilia valve, along with the Konect Resilia valved conduit. The company also expects to launch the new Mitris Resilia surgical mitral valve in the U.S. next year.
The firm is integrating a full range of Smart Recovery technologies on the HemoSphere monitoring platform. Edwards plans to launch its Viewfinder network connectivity solution in the U.S. and begin the SMART BP study.
The firm projected sales $5.5 – $6 billion with underlying growth in the low double-digits. 2022 TAVR sales were predicted to be $3.7 – $4 billion next year, with 12-15 percent growth. TMTT (transcatheter mitral and tricuspid therapies) is expected to garner $140 - $170 million. Estimated 2022 adjusted earnings per share were $2.50 - $2.65, and R&D expenses are planned to be 17-18 percent of sales. Meaningful progress will be made on seven TAVR and TMTT trials, and global market opportunity across four product groups is expected to double to almost $20 million by 2028.
"In 2021, our therapies are benefitting more patients than ever before. We are delivering results and making significant progress on our milestones to drive future success," Michael A. Mussallem, Edwards chairman and CEO told the press. "In 2022, we are projecting another year of double-digit top-line and bottom-line growth while we continue to aggressively pursue breakthrough therapies for millions of patients suffering from structural heart diseases. During the year, we look forward to significant milestones, including new product launches, and progress on multiple significant clinical trials. We remain confident that our innovative therapies will continue to drive strong organic growth in the years to come, and we're just getting started."
Transcatheter Aortic Valve Replacement (TAVR)
Expected 2022 milestones include continued Sapien 3 Ultra adoption, as well as the EARLY TAVR trial for severe aortic stenosis prior to symptoms. There will be further enrollment in the PROGRESS trial to study treatment of moderate aortic stenosis patients. The ALLIANCE pivotal trial for the next-gen Sapien X4 is also planned.
Transcatheter Mitral and Tricuspid Therapies (TMTT)
Milestone for next year include U.S. Pascal approval for degenerative mitral regurgitation and European Evoque tricuspid valve approval. Enrollment for the TRISCEND II Evoque trial will continue, as well as enrollment in the MISCEND trial for the Sapien M3 mitral valve.
Surgical Structural Heart
The company aims to broaden adoption of its flagship Inspiris Resilia valve, along with the Konect Resilia valved conduit. The company also expects to launch the new Mitris Resilia surgical mitral valve in the U.S. next year.
Critical Care
The firm is integrating a full range of Smart Recovery technologies on the HemoSphere monitoring platform. Edwards plans to launch its Viewfinder network connectivity solution in the U.S. and begin the SMART BP study.