In April 2025, Edwards received FDA approval for the SAPIEN 3 platform for severe aortic stenosis patients without symptoms, potentially expanding the patient population.

In April 2025, Edwards received CE Mark for the Edwards SAPIEN M3 mitral valve replacement system for the transcatheter treatment of patients with symptomatic mitral regurgitation, expanding its product offerings in Europe.

The company has agreements to acquire multiple medical device companies, with $1.1 billion paid in 2024 for three transactions and one remaining agreement expected to close in 2025 for $500 million plus potential milestone payments.

During the three months ended March 31, 2025, Edwards repurchased a total of 3.4 million shares at an aggregate cost of $306.9 million, including pursuant to a $250 million accelerated share repurchase agreement.

The Appeals process culminated in the third quarter of 2023 when the Company and Appeals concluded that a satisfactory resolution of the matter at the administrative level was not possible.

The Company plans to vigorously contest the additional tax claimed by the IRS through the judicial process. Final resolution of this matter is not likely within the next 12 months.

The company is engaged in ongoing tax disputes with the IRS and the Israel Tax Authority (ITA), which could have a material effect on the company's consolidated financial statements if resolved unfavorably.

The company is involved in various legal proceedings, including intellectual property litigation, a breach of merger agreement claim, and a securities class action, the outcomes of which are uncertain and could impact the company's financial results.

Should these companies experience a decline in financial performance, financial condition or credit capacity, or fail to meet certain development milestones, a decline in the investments' value may occur, resulting in unrealized or realized losses.

Net sales of TAVR products increased for the three months ended March 31, 2025, driven by higher sales of the Edwards SAPIEN platform, particularly the SAPIEN 3 Ultra RESILIA valve in the United States and Europe.

Net sales of TMTT products increased for the three months ended March 31, 2025, primarily due to higher sales of our PASCAL transcatheter edge-to-edge repair system and our continued launch of the EVOQUE tricuspid valve replacement system in the United States and Europe.

Net sales of Surgical products increased for the three months ended March 31, 2025, primarily due to higher sales of the INSPIRIS RESILIA aortic valve, KONECT RESILIA tissue valved conduit, and MITRIS RESILIA valve in various regions.

Selling, general, and administrative (SG&A) expenses increased for the three months ended March 31, 2025, primarily due to higher field-based personnel-related costs in support of our growth strategy initiatives and professional services costs to support a transition services agreement.

Research and Development (R&D) expenses decreased for the three months ended March 31, 2025, primarily due to decreased investments in our aortic transcatheter valve innovations, partially offset by increased investments in implantable heart failure management innovations.

Foreign currency exchange rate fluctuations decreased expenses by $6.7 million for the three months ended March 31, 2025, primarily due to the strengthening of United States dollar against the Euro and multiple other currencies.

The company's vision for growth is to treat patients with both valvular and non-valvular structural heart disease, such as heart failure, which is a natural progression of the disease for many patients suffering from aortic stenosis and mitral and tricuspid regurgitation.

The company is committed to developing new technologies and innovations, and we are committed to defending our intellectual property in support of those developments.

The company is dedicated to generating robust clinical, economic, and quality-of-life evidence increasingly expected by patients, clinicians, and payors in the current healthcare environment, with the goal of encouraging the adoption of innovative new medical therapies that demonstrate superior outcomes.

The company repurchased 3.4 million shares for $306.9 million during the quarter, with $1.1 billion remaining authorized for future repurchases, signaling management's confidence in the company's valuation and cash flow generation.

The company has agreements to acquire multiple medical device companies, with $1.1 billion paid in 2024 for three transactions and one remaining agreement expected to close in 2025 for $500 million plus potential milestone payments.

As of March 31, 2025, the company had $3.4 billion in cash and cash equivalents held in the United States and $538.7 million held outside of the United States, providing ample financial flexibility.

The provided 10Q filing does not contain any specific information regarding Environmental, Social, and Governance (ESG) initiatives undertaken by Edwards Lifesciences.

Foreign currency exchange rate fluctuations decreased net sales outside of the United States by $15.1 million for the three months ended March 31, 2025, primarily due to the weakening of the Euro against the United States dollar.

The company is dedicated to generating robust clinical, economic, and quality-of-life evidence increasingly expected by patients, clinicians, and payors in the current healthcare environment, with the goal of encouraging the adoption of innovative new medical therapies that demonstrate superior outcomes.

In 2025, the Company expects the Pillar Two provisions to result in additional tax expense of approximately $60 million.