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Edwards’s Win Yields Therapy for Frail Heart Patients (Update2)2010-09-23 20:22:23.972 GMT
By David Olmos and Michelle Fay CortezSept. 23
(Bloomberg) -- Edwards Lifesciences Corp.’s Sapienheart valve may become the first life-saving treatment in theU.S. for frail, elderly patients with diseased valves after astudy found it slashed deaths in those with few medical options.Edwards rose $7.89, or 13 percent, to $67.59 at 4 p.m. inNew York Stock Exchange trading, in the biggest single-dayincrease since July 2002. The company’s shares have doubled inthe past 12 months as investors anticipated yesterday’s studyresults.
Edwards, based in Irvine, California, will use thisresearch and additional tests in healthier patients to seek FDAapproval of the $30,000 valve next year. If Sapien is safer andworks as well as alternatives in a broader group of patients,Edwards may double sales to $2.8 billion in five years, analystssurveyed by Bloomberg projected.“The overall data is stronger than we expected,” JasonMills, an analyst with Canaccord Adams Inc. in San Francisco,said in a telephone interview. “This moves the ball down thefield with respect to this technology.”
Edwards’s Win Yields Therapy for Frail Heart Patients (Update2)2010-09-23 20:22:23.972 GMT
By David Olmos and Michelle Fay CortezSept. 23
(Bloomberg) -- Edwards Lifesciences Corp.’s Sapienheart valve may become the first life-saving treatment in theU.S. for frail, elderly patients with diseased valves after astudy found it slashed deaths in those with few medical options.Edwards rose $7.89, or 13 percent, to $67.59 at 4 p.m. inNew York Stock Exchange trading, in the biggest single-dayincrease since July 2002. The company’s shares have doubled inthe past 12 months as investors anticipated yesterday’s studyresults.
Edwards, based in Irvine, California, will use thisresearch and additional tests in healthier patients to seek FDAapproval of the $30,000 valve next year. If Sapien is safer andworks as well as alternatives in a broader group of patients,Edwards may double sales to $2.8 billion in five years, analystssurveyed by Bloomberg projected.“The overall data is stronger than we expected,” JasonMills, an analyst with Canaccord Adams Inc. in San Francisco,said in a telephone interview. “This moves the ball down thefield with respect to this technology.”