Led by TAVR business, Edwards Lifesciences has strong 3rd quarter

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Sapien transcatheter aortic valve.
Source: Edwards Lifesciences

For the third quarter of 2015, Edwards Lifesciences had a 1.3 percent increase in worldwide sales compared with the same period last year, including an increase of 10.8 percent in its transcatheter heart valve therapy business.

Net sales for the third quarter were $615.5 million, including $323.1 million in the U.S. Net income was $118.1 million or $1.07 per diluted share.

The transcatheter heart valve therapy business accounted for $296.1 million, including $166.4 million in the U.S., an increase of 33.1 percent.

In June, the FDA  approved the Sapien 3 transcatheter aortic valve replacement (TAVR) device for high-risk patients with severe aortic stenosis. Previously, the FDA had approved the Sapien TAVR device and the Sapien XT TAVR device for inoperable and high-risk patients.

The surgical heart valve therapy business sales were $187.9 million, a decrease of 7.6 percent compared with the third period of 2014.

For 2015, Edwards expects sales to be between $2.3 billion and $2.5 billion. It increased its diluted earnings per share excluding special items to $4.43 to $4.53 from its previous guidance of $4.30 to $4.40.