Edwards Lifesciences Corp Q3 2023 Earnings Call Summary

The following is excerpted from the question-and-answer section of the transcript.

Question: Robert Justin Marcus - JPMorgan Chase & Co, Research Division - Analyst : Great. Maybe to start, you guys did 11% TAVR growth in the quarter, roughly similar U.S., OUS. How do we think about what's holding it back here from being faster? Pre-COVID it was growing at much higher rates. It's been one of the slower to recover subsectors in med tech. Data you presented this weekend should be supportive of growth. But what gives you confidence this can remain a double-digit growth market for the foreseeable future?

Question: Robert Justin Marcus - JPMorgan Chase & Co, Research Division - Analyst : Great. Maybe one more product question here for me. You just got EVOQUE approved in Europe with CE Mark. We'll see the data for 6 months tomorrow in tricuspid replacement. This is a market we hear from doctors a lot. It may not be terribly excited about repair, but replacement could be a really exciting option. What do you think Edwards needs to do as a company to take this market and accelerate adoption and drive uptake here in an area that's been pretty slow with tricuspid repair?

Question: Danielle Joy Antalffy - UBS Investment Bank, Research Division - Analyst : I was just wondering if I could follow up actually on the data, the 5-year data we saw yesterday. And Larry, if there's any read that we can make or something that could that we saw on the data that could give us more confidence in the upcoming asymptomatic data readout? Or is that just too difficult to take anything from yesterday and the size of that trial? Larry L. Wood - Edwards Lifesciences Corporation - Corporate VP and Group President of TAVR & Surgical Structural Heart Yes. I appreciate everybody's trying to get an early read on early TAVR. And I don't think there's -- I don't think there's anything that's really from this data that I -- and I haven't even -- we haven't even broken apart the early TAVR data. So I don't even know anything about the data set yet to even talk about and even if I did, I couldn't tell you. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. OCTOBER 25, 2023 / 9:00PM, EW.N - Q3 2023 Edwards Lifesciences Corp Earnings Call I think just broadly speaking, the fact that we show excellent durability out at 5 years with no durability signal whatsoever. If the symptomatic trial is successful, which we obviously hope it is. But if that trial is successful, it just takes one more burden away from people saying, do I want to treat people earlier in the disease state. And I think the more durability data we can put on the board will help make that if -- that trial is successful and we do get the indication that that will be one barrier that's removed. So I think the long-term data continuing to build on the durability and safety and long-term results of the platform just continue to be important, and it's going to be important long term for the PROGRESS trial. If you're going to treat people with moderate disease down the road, you need to make sure you have a durable platform and that it has options down the road for these patients. So I think it all is complementary, but I don't think anything about this trial informs the early TAVR results.