IREN proposes $875 million convertible notes offering due 2031
Investing.com -- Shares of Edwards Lifesciences (NYSE:EW) climbed 3% after the company’s competitor, Boston Scientific (NYSE:BSX), announced the discontinuation of its ACURATE aortic valve systems globally. The move by Boston Scientific comes as a result of increased clinical and regulatory requirements imposed by discussions with regulators, making further investment in the product prohibitive.
Boston Scientific’s decision to halt sales of the ACURATE neo2 and ACURATE Prime Aortic Valve Systems and to abandon efforts for U.S. FDA approval was disclosed on today. The company cited the growing clinical and regulatory demands to maintain and obtain approvals across global markets as the primary reason for the withdrawal. This development is seen as beneficial for Edwards Lifesciences, potentially leading to increased market share in the aortic valve sector.
Investors responded positively to the news, boosting Edwards Lifesciences’ stock during the trading session. The company, which is a leading player in the heart valve market, may now face less competition in an industry where regulatory compliance and product approval are critical for success.
While the immediate financial impact on Edwards Lifesciences’ revenue and market position remains to be seen, the stock’s positive movement reflects investor confidence in the company’s prospects following the competitor’s strategic exit.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.