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Edwards Lifesciences (EW) investor relations material
Edwards Lifesciences Investor Day 2025 summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Strategic vision and innovation
Focus on large, complex unmet patient needs with a strategy to lead and define new therapeutic categories, including TAVR, tricuspid, mitral, pulmonic, and aortic regurgitation therapies, and a patient-centered approach to structural heart disease.
Expanded reach through global presence in 100+ countries, 16,000 employees, and a resilient supply chain, with a strong culture and impact on the healthcare ecosystem.
Heavy R&D investment: over $1B annually, $1.6B external, with above 20% R&D return, 10,000+ patents, 1,000+ publications, and $40B+ in population-wide health gain from TAVR.
Diversified growth drivers now include TAVR, mitral, tricuspid, surgical, and emerging opportunities in structural heart failure and aortic regurgitation.
Commitment to continuous innovation and long-term value creation for patients, physicians, health systems, and shareholders.
Financial guidance and growth outlook
2025 guidance: 8%-10% total sales growth, TAVR growth 5%-7%, TMTT sales growth 50%-60% to $500M+, and EPS of $2.40-$2.50.
2026 guidance: 8%-10% sales growth, $6.4B-$6.8B sales, adjusted EPS $2.80-$2.95, operating margin expansion of ~100bps, and TAVR $4.6-$4.9B (6%-8% growth), TMTT $740-$780M (35%-45% growth), Surgical $1.05-$1.13B (mid-single digit growth).
Long-term: Targeting ~10% average annual sales growth, double-digit EPS growth, TMTT to reach $2B by 2030, and mid- to high-single-digit TAVR growth.
Capital deployment focused on R&D, strategic acquisitions, manufacturing, and share repurchases, maintaining >20% ROIC and a strong, flexible balance sheet.
Continued investment in R&D and adjacent therapies, with a focus on clinician and patient education and improving R&D ratio as a percent of sales.
Product and clinical pipeline highlights
TAVR: SAPIEN platform remains the global benchmark, with new indications, SAPIEN 3 Ultra RESILIA adoption, SAPIEN X4, and pivotal PROGRESS trial data expected at TCT 2026.
TMTT: Launches of EVOQUE, PASCAL, and SAPIEN M3 to expand patient pool; FDA approval of SAPIEN M3 expected early 2026; robust evidence from TRISCEND II and CLASP II trials.
Surgical: INSPIRIS, KONECT, MITRIS with RESILIA tissue technology showing strong adoption; U.S. launch of TRIFORMIS, the first surgical tricuspid valve, expected H2 2026.
Heart failure: Cordella system and new IHFM business targeting 1.2M high-risk patients, with PRO2 trial to support guideline updates and V-LAP in development.
AR: Acquisitions of J-Valve and JenaValve to address aortic regurgitation, with clinical trials underway and JenaValve acquisition pending.
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