Edwards projection on TAVR. Nice growth for 2023 Edwards Lifesciences logo. (PRNewsFoto/Edwards Lifesciences Corporation)
Highlights of today's conference include:
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Global market opportunity across 4 product groups projected to double to nearly $20 billion by 2028
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Reaffirming October 2022 financial guidance
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Projecting 2023 global sales of $5.6 - $6.0 billion; underlying growth of 9% - 12%
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Projecting 2023 TAVR sales of $3.6 - $4.0 billion; underlying growth of 9% - 12%
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Projecting 2023 TMTT sales of $160 - $200 million
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Estimating 2023 adjusted earnings per share of $2.45 - $2.60
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Focused long-term growth investments with 2023 R&D planned at 17% - 18% of sales
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Meaningful progress on 8 pivotal trials across TAVR and TMTT
"I'm proud of the meaningful progress that the company made in 2022 advancing our strategic milestones to drive future success," said Michael A. Mussallem, chairman and CEO. "In 2023, we are projecting strong underlying sales 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 important clinical trials. We remain confident that our innovative therapies will continue to drive strong organic growth in the years to come as we embark on a new era of structural heart innovation."
Among the topics being discussed at today's conference are:
Transcatheter Aortic Valve Replacement (TAVR) – Edwards is confident that TAVR fundamentals remain strong and believes that hospital staffing challenges are transient and will gradually improve. To address these challenges, Edwards is focusing on supporting its hospital partners and engaging with the clinical community to address undertreatment. The company continues to believe that the global TAVR market opportunity will reach $10 billion by 2028, driven by greater awareness and advances in new technologies, as well as indication expansion and increased global adoption. The company will continue investing in groundbreaking trials and research and development to help more patients and further strengthen its long-term leadership position. Highlights and expected milestones in 2023 include:
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Strong adoption of SAPIEN 3 Ultra RESILIA, anticipating stable selling prices and share
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EARLY TAVR, a pivotal trial studying the treatment of severe aortic stenosis patients before symptoms develop, is fully enrolled and advancing through the follow-up process
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Continued enrollment in PROGRESS, a pivotal trial studying the treatment of moderate aortic stenosis patients
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Continued enrollment in ALLIANCE, a pivotal trial studying the next-generation SAPIEN X4