Edwards Lifesciences (EW) Acquisition of JenaValve Blocked by FTC, 2026 EPS Guidance Revised to $3.05
- Acquisition Blocked: The U.S. District Court for the District of Columbia granted the FTC's injunction against Edwards Lifesciences' acquisition of JenaValve, which the FTC argues would reduce competition in the TAVR-AR market, potentially stifling innovation and product quality.
- Patient Impact: Edwards stated that the acquisition would benefit a large, underserved patient population, particularly those with aortic regurgitation (AR), a condition that carries high mortality if untreated, highlighting the urgent need for innovative medical devices in the market.
- Guidance Revision: In light of this development, Edwards revised its full-year 2026 adjusted EPS guidance to a range of $2.90 to $3.05, exceeding the consensus estimate of $2.87, reflecting the company's confidence in its future performance despite regulatory challenges.
- Executive Transition: CFO Scott Ullem announced his decision to step down by mid-2026, although he will remain in an advisory role, indicating the company's commitment to stability and continuity during the executive transition period.
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