Release Date: April 25, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Q & A Highlights
Q: What drove the strong performance in TMTT this quarter, particularly with the EVOQUE product?
A: Bernard J. Zovighian, CEO & Director, highlighted the strong early physician feedback on EVOQUE, noting excellent procedural outcomes. However, he clarified that the majority of Q1 growth was driven by the PASCAL product, particularly in Europe and the U.S. Daveen Chopra, Corporate VP of Transcatheter Mitral & Tricuspid Therapies, added that the initial launch of EVOQUE in both Europe and the U.S. has been positive, with good clinical outcomes and consistent procedure times.
Q: How is the U.S. TAVR market performing post-COVID, and what are the growth expectations for the rest of the year?
A: Bernard J. Zovighian expressed confidence in the U.S. market, noting that TAVR sales growth in the U.S. exceeded the global rate. Larry L. Wood, Corporate VP and Group President of TAVR & Surgical Structural Heart, added that they saw good progression throughout Q1 and expect this trend to continue, with a higher growth rate expected in the second half of the year.
Q: Can you discuss the slower-than-expected TAVR growth in Europe and its impact on future performance?
A: Larry L. Wood acknowledged the slower growth in Europe but expects it to normalize with the launch of SAPIEN 3 Ultra RESILIA in Q2. He attributed some of the slow growth to aggressive pricing from competitors and the loss of a couple of billing days.
Q: What impact do you foresee from the NTAP for EVOQUE starting October 1?
A: Daveen Chopra expects the NTAP to significantly support growth in 2025 and beyond, as it will help offset incremental costs associated with EVOQUE procedures compared to existing DRG for TAVR and TEER.
Q: How does Edwards Lifesciences view the mix of repair and replacement technologies for treating tricuspid and mitral valve diseases?
A: Daveen Chopra emphasized the importance of having both repair and replacement options available for treating the diverse and complex conditions of tricuspid and mitral valve patients. He noted that while the exact mix of technology use is still being determined, having a comprehensive portfolio allows physicians to choose the best treatment for each patient.
Q: What are the expectations for the TAVR market following the potential positive results from the early TAVR trial?
A: Larry L. Wood discussed the potential for the early TAVR trial to streamline the referral and treatment process for AS patients, moving from a subjective assessment of symptoms to a more straightforward criteria based on diagnostic measurements. This could significantly impact how patients are referred and treated, potentially leading to an increase in TAVR procedures.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.