The battle for control of a developing market for heart valves that can be inserted without open-heart surgery intensified today as Edwards Lifesciences Corp.’s second-generation product was found to outperform Medtronic Inc.’s device in a head-to-head comparison.
Edwards Lifesciences Corp., the biggest-maker of aortic heart valves implanted with a catheter, plunged the most in a dozen years after the company cut its 2013 forecast on slower-than-anticipated sales.
People with damaged mitral valves, which allow blood to flow backward in the heart, live longer and healthier lives if they get immediate surgery to repair a severe defect rather than wait for symptoms to appear.
Novel devices from Medtronic Inc. and Edwards Lifesciences Corp. that repair damaged aortic valves without open-heart surgery safely helped patients in two of the largest and longest reviews of the technology.
U.S. stocks climbed, with the Standard & Poor’s 500 Index posting a fifth quarterly gain, as Federal Reserve Chair Janet Yellen signaled continued monetary support and tensions appeared to ease in Ukraine.