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Edwards Lifesciences Corp

BUSINESS
April 22, 2000 | From Bloomberg News
Edwards Lifesciences Corp., the largest maker of replacement heart valves, said Friday it has halted use of its surgical patches for protecting dangerously weakened aortas after spotting small cracks in the patches. Routine X-rays of two patients in a trial of the Lifepath AAA Endovascular Graft System revealed the cracks. Neither patient had medical problems as a result of the damaged products.
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BUSINESS
July 19, 2000 | From Bloomberg News
Edwards Lifesciences Corp., the No. 1 maker of artificial heart valves, agreed on Tuesday to sell most of its unprofitable Bentley line to Germany's Jostra for about $30 million and said it plans to take charges against earnings related to the sale and severance costs for 60 employees at its Irvine headquarters and in Puerto Rico. Edwards, which was spun off by Baxter International Inc.
BUSINESS
April 1, 2000 | From Reuters
Shares of Edwards Lifesciences Corp., an Irvine developer of cardiovascular products, are scheduled to begin trading officially Monday amid a bullish earnings outlook. The new company, which is being shed by Baxter International Inc. in Deerfield, Ill., will compete against Boston Scientific Corp., Guidant Corp. and Medtronic Inc. in providing products to treat cardiovascular disorders, a market Edwards estimates at $100 billion a year.
BUSINESS
October 20, 2006 | From the Associated Press
Edwards Lifesciences Corp., a Irvine-based heart device maker, swung to a third-quarter profit as it recorded fewer special charges and a lower cost for goods sold. The company reported a profit of $27.8 million, or 45 cents a share, contrasted with a loss of $4.4 million, or 7 cents, a year earlier. Excluding one-time charges and stock option expenses, the company said net income rose to $32.5 million, or 53 cents a share, from $29 million, or 46 cents, a year earlier.
BUSINESS
June 13, 2000 | Bloomberg News
Irvine-based Edwards Lifesciences Corp., which makes products to treat heart disease, said it received approval from the Food and Drug Administration to sell its Thrombex PMT System, which removes blood clots from grafted blood vessels. The stock closed at $18.63, up 13 cents a share, on the New York Stock Exchange.
BUSINESS
March 11, 2000 | Marc Ballon
Edwards Lifesciences Corp., the Irvine cardiovascular division of Baxter International Inc. that is being spun off, is scheduled to begin trading April 3 on the New York Stock Exchange under the ticker symbol EW. Edwards also named two new directors--Mike R. Bowlin, chairman and chief executive of Atlantic Richfield Co., and Victoria R. Fash, president and chief executive of IMS Health, a provider of information solutions to the pharmaceutical and health care industries.
BUSINESS
January 24, 2006 | From Bloomberg News
Edwards Lifesciences Corp. said it agreed to settle a patent dispute with Medtronic Inc. and Medtronic Vascular Inc. over grafts used to treat various aneurysms. Irvine-based Edwards said that in exchange for a payment of $37.5 million to Edwards and Australia-based Endogad Research Party Ltd., Medtronic had been granted nonexclusive licenses to the patents involved in the litigation and related patents.
BUSINESS
September 4, 2008 | From Times Wire Services
Edwards Lifesciences Corp. won U.S. regulatory approval to sell a replacement heart valve derived from cow tissue and designed to be easier to implant because it mimics the shape of the original. The product, the Perimount Magna, will be available immediately, the Irvine company said. The valve is derived from cow hearts and uses technology that prevents calcium from building up and restricting blood flow. The Perimount Magna was introduced in Europe in 2005.
BUSINESS
July 24, 2007 | From Times Wire Services
Edwards Lifesciences Corp. lowered its forecast for 2007 sales to the low end of the previous range of $1.07 billion to $1.11 billion. Earnings will be 41 cents to 43 cents a share in the third quarter and $2.08 to $2.12 for the year, the company said. Revenue for heart valve therapy sales will be $250 million to $260 million for the second half of the year, according to the company. Second-quarter profit fell 3.3% to $34.9 million, or 57 cents a share, the Irvine company said.
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