Edwards Lifesciences expects strong sales growth
Edwards Lifesciences Corp. said Monday it expects 2011 sales growth of 11 percent to 15 percent, and it will aim for net income growth of between 6 percent and 8 percent, excluding special items.
The Irvine, Calif., company, which specializes in heart valves and hemodynamic monitoring, said sales of its transcatheter valves are expected to grow to between $300 million and $340 million next year. It also said it plans to invest about $40 million to prepare for the U.S. launch of its Sapien transcatheter heart valve.
"While this will moderate earnings growth in 2011, it allows us to aggressively address this large unmet patient need," Chairman and CEO Michael A. Mussallem said in a statement.
The company will aim for total sales of between $1.59 billion and $1.67 billion in 2011.
Edwards Lifesciences shares climbed 5 percent, or $3.61, to $74.89 in Monday afternoon trading. Earlier shares set a 52-week high of $74.91.