Study says heart valve cuts deaths
Edwards Lifesciences Corp.’s Sapien heart valve may become the first lifesaving treatment in the U.S. for frail, elderly patients with diseased valves after a study found it slashed deaths in those with few medical options.
Edwards rose $7.89, or 13%, to $67.59 in the biggest single-day increase since July 2002. The Irvine firm’s shares have doubled in the last year as investors anticipated the study results.
Edwards will use this research and tests in healthier patients to seek FDA approval of the $30,000 valve next year.
If Sapien is safer and works as well as alternatives in a broader group of patients, Edwards may double sales to $2.8 billion in five years, analysts surveyed by Bloomberg projected.