Navigation Links
Edwards Lifesciences Forecasts Strong Growth in 2008
Date:12/7/2007

- EPS Growth of 11% to 14% Projected

- Expanded PARTNER Trial to Include Transapical System

- European Approval Received for Transapical System

NEW YORK, Dec. 7 /PRNewswire-FirstCall/ -- Edwards Lifesciences Corporation (NYSE: EW), a world leader in products and technologies to treat advanced cardiovascular disease, today will provide investors with information on the initiatives expected to drive sales growth and profitability in 2008 and beyond. During its 2007 investor conference in New York City, Edwards' management will present details of the company's growth plans, market expansion opportunities and its financial outlook for 2008.

"We expect 2008 to be a very successful and important year for Edwards Lifesciences," said Michael A. Mussallem, chairman and CEO. "Our market-leading heart valve and critical care franchises provide a strong foundation for continued growth. We expect our strategic portfolio changes and sales of new products to drive greater profitability and grow earnings. Additionally, our market-expanding transcatheter valve technologies are expected to generate more than $20 million of sales next year."

During the conference, Edwards' management also will present the company's financial goals for 2008, including total sales between $1.16 billion to $1.21 billion, increasing gross profit margin by 100 to 150 basis points, delivering earnings per share growth of 11 to 14 percent, excluding the impact of special items, and generating free cash flow of $155 million to $165 million.
Among the specific topics to be discussed at today's event are:

-- Transcatheter Heart Valve Therapy -- Edwards continues to lead the

advancement of transcatheter heart valve technologies designed to

expand the treatment options for patients with severe aortic stenosis

through minimally-invasive therapies. In Europe, the company has

commenced commercialization activities and 18 sites have already

ordered the SAPIEN valve. Also, the company received European approval

to commercialize its Ascendra transapical delivery system. Edwards

continues to expect to generate more than $20 million in sales in 2008.

Edwards is working with the U.S. Food and Drug Administration to modify

the PARTNER trial to incorporate its Ascendra transapical delivery

system and increase the sample size to better ensure that the trial

endpoints are met. Additionally, the company expects the first

clinical use of its next generation valve technology in the first half

of 2008.

-- Heart Valve Therapy -- Edwards expects to strengthen its position as

the worldwide leader in the science of heart valves with several new

product launches in 2008, including the U.S. introduction of its

PERIMOUNT Magna mitral valve. Overall, the company expects to

accelerate growth in this product line in 2008 despite near-term

competitive pressures in the U.S. market. Together with transcatheter

valve sales, Edwards expects to generate 8 to 10% underlying Heart

Valve Therapy sales growth in 2008.

-- Critical Care -- Building upon its decades-long global leadership in

hemodynamic monitoring systems, Edwards' FloTrac minimally invasive

monitoring system continues to generate growth driven by product

enhancements. The company expects its Critical Care product line to

report underlying sales growth of 8 to 10%, consistent with its current

performance.

-- Vascular -- Edwards will discuss the strategic rationale for the

divestiture of its LifeStent product line, as reported separately

today.

-- Financial Outlook -- In addition to confirming its guidance for 2007,

management will detail the company's financial expectations for 2008.

Other members of Edwards' management team attending the conference include:
Thomas M. Abate, corporate vice president, chief financial officer and

treasurer;

Anita B. Bessler, corporate vice president, Heart Valve Therapy and

Cardiac Surgery Systems;

Donald E. Bobo, Jr., corporate vice president, Heart Valve Therapy;

Stuart L. Foster, corporate vice president, Critical Care and Vascular;

Carlyn D. Solomon, corporate vice president, Critical Care;

Patrick B. Verguet, corporate vice president, Europe; and

Larry L. Wood, corporate vice president, Transcatheter Valve Replacement.

Guest Speakers Provide Clinical Perspective

Also speaking at the conference are interventional cardiologist Dr. Martyn R. Thomas, director of cardiology and cardiothoracic services at St. Thomas' Hospital in London, and Dr. Todd M. Dewey, cardiothoracic surgeon and surgical director, cardiac transplantation and mechanical circulatory support at Medical City Dallas Hospital, who will detail their clinical experience with transcatheter aortic valve therapies.

Webcast Information

The Edwards Lifesciences 2007 Investor Conference can be accessed via live webcast at http://www.edwards.com/investorconference beginning at 9:00 a.m. Eastern Standard Time on December 7, 2007. The webcast will also be archived on the Edwards website after the conference concludes.

About Edwards Lifesciences

Edwards Lifesciences, a leader in advanced cardiovascular disease treatments, is the number-one heart valve company in the world and the global leader in acute hemodynamic monitoring. Headquartered in Irvine, Calif., Edwards focuses on specific cardiovascular opportunities including heart valve disease, peripheral vascular disease and critical care technologies. The company's global brands, which are sold in nearly 100 countries, include Carpentier-Edwards, Cosgrove-Edwards, FloTrac, Fogarty, LifeStent, PERIMOUNT Magna, and Swan-Ganz. Additional company information can be found at http://www.edwards.com.

This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements include, but are not limited to, the company's ability to achieve 2007 and 2008 financial goals for total sales, gross profit margin, net income, EPS and free cash flow; the continued success of recently introduced products; the regulatory approval for new products; the continued adoption and sales of FloTrac; the progress of clinical studies and timing of regulatory approvals for transcatheter valve technologies; the impact on financial results of special items. Forward-looking statements are based on estimates and assumptions made by management of the company and are believed to be reasonable, though they are inherently uncertain and difficult to predict.

Forward-looking statements involve risks and uncertainties that could cause actual results or experience to differ materially from that expressed or implied by the forward-looking statements. Factors that could cause actual results or experience to differ materially from that expressed or implied by the forward looking statements include the risks detailed in the company's filings with the Securities and Exchange Commission including its Annual Report on Form 10-K for the year ended December 31, 2006.

Ascendra, Edwards, Edwards SAPIEN, FloTrac and PERIMOUNT Magna are trademarks of Edwards Lifesciences Corporation. Edwards Lifesciences, Carpentier-Edwards, Cosgrove-Edwards, Fogarty, PERIMOUNT, and Swan-Ganz are trademarks of Edwards Lifesciences Corporation and are registered in the U.S. Patent and Trademark Office. LifeStent is a trademark of Edwards Lifesciences AG and is registered in the U.S. Patent and Trademark Office.


'/>"/>
SOURCE Edwards Lifesciences Corporation
Copyright©2007 PR Newswire.
All rights reserved

Related biology technology :

1. Favrille to Present at AG Edwards Emerging Growth Conference and Wall Street Analyst Forum
2. Bionovo to Present at A.G. Edwards 2nd Annual Emerging Growth Conference 2007
3. Edwards Lifesciences Grants UC Irvine $5 Million to Establish the Edwards Lifesciences Center for Advanced Cardiovascular Technology
4. Medarex to Present at the A.G. Edwards 2nd Annual Emerging Growth Conference
5. Marshall Edwards, Inc. to Present at BIO Investor Forum 2007
6. STALLERGENES : Strong Business Growth: +17% and Earnings Per Share up 30%
7. Dawson James Securities Initiates Research Coverage on CryoCor, Inc. (Nasdaq: CRYO) with a Strong Buy Rating and $6.00 Target Price
8. Strong Demand Pushes up Both Prices and Sales Volumes for Dragons Main Products
9. U-M research: New plastic is strong as steel, transparent
10. Nobel Award in Medicine Holds Strong Messsage for Animal Activists
11. Monsanto Sees Record Sales in Fiscal Year 2007; Seeds and Traits Business Contributes to Strong Fourth Quarter and Year-End Results
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/23/2016)... ... June 23, 2016 , ... Mosio, a leader in ... Trials Patient Recruitment and Retention Tips.” Partnering with experienced clinical research professionals, Mosio ... practical tips, tools, and strategies for clinical researchers. , “The landscape of how ...
(Date:6/23/2016)... June 23, 2016 Houston Methodist Willowbrook ... Cy-Fair Sports Association to serve as their official ... Houston Methodist Willowbrook will provide sponsorship support, athletic ... with association coaches, volunteers, athletes and families. ... Cy-Fair Sports Association and to bring Houston Methodist ...
(Date:6/23/2016)... (PRWEB) , ... June 23, 2016 , ... ... today announced the launch of the Supplyframe Design Lab . Located in ... to explore the future of how hardware projects are designed, built and brought ...
(Date:6/23/2016)... June 23, 2016 ... 2016;12(1):22-8 http://doi.org/10.17925/OHR.2016.12.01.22 Published recently ... peer-reviewed journal from touchONCOLOGY, Andrew D Zelenetz ... of cancer care is placing an increasing burden ... expensive biologic therapies. With the patents on many ...
Breaking Biology Technology:
(Date:4/26/2016)... and LONDON , April ... part of EdgeVerve Systems, a product subsidiary of ... today announced a partnership to integrate the Onegini ...      (Logo: http://photos.prnewswire.com/prnh/20151104/283829LOGO ) ... their customers enhanced security to access and transact ...
(Date:4/19/2016)... The new GEZE SecuLogic access ... "all-in-one" system solution for all door components. It can ... door interface with integration authorization management system, and thus ... minimal dimensions of the access control and the optimum ... offer considerable freedom of design with regard to the ...
(Date:4/15/2016)... 2016 Research and Markets has ... Market 2016-2020,"  report to their offering.  , ... ,The global gait biometrics market is expected to ... period 2016-2020. Gait analysis generates multiple ... used to compute factors that are not or ...
Breaking Biology News(10 mins):