1099800--3/2/2009--Edwards_Lifesciences

related topics

{property, intellectual, protect}

{regulation, government, change}

{customer, product, revenue}

{product, liability, claim}

{condition, economic, financial}

{operation, international, foreign}

{cost, regulation, environmental}

{tax, income, asset}

{stock, price, operating}

{competitive, industry, competition}

{product, market, service}

{interest, director, officer}

{product, candidate, development}

{acquisition, growth, future}

{personnel, key, retain}

{operation, natural, condition}

{loan, real, estate}

An investor should carefully consider the risks described below, as well as other information contained in this Annual Report on Form 10-K and in our other filings with the Securities and Exchange Commission. Additional risks not presently known to us or that we currently deem immaterial may also adversely affect our business. If any of these events or circumstances occurs, our business, financial condition, results of operations or prospects could be materially harmed. In that case, the value of our securities could decline and an investor could lose part or all of his or her investment. If we do not introduce new products in a timely manner, our products may become obsolete and our operating results may suffer. We may incur product liability losses that could adversely affect our operating results. We may experience supply interruptions that could harm our ability to manufacture products. The manufacturing of many of our products is highly complex and subject to strict quality controls. If we or one of our suppliers encounters manufacturing or quality problems, our business could suffer. We may be required to recognize charges in connection with the write-down of our investments, the disposition of some of our businesses, the termination of interest rate swap agreements, or for other reasons. We may not successfully identify and complete acquisitions or strategic alliances on favorable terms or achieve anticipated synergies relating to any acquisitions or alliances, and such acquisitions could result in unforeseen operating difficulties and expenditures, require significant management resources, and require significant charges or write-downs. General economic and political conditions could have a material adverse effect on our business. The recent decline in the global economy and turmoil in the credit markets may adversely affect our business, results of operations, and financial condition. Our business is subject to economic, political, and other risks associated with international sales and operations, including risks arising from currency exchange rate fluctuations. The stock market can be volatile and fluctuations in our quarterly operating results as well as other factors could cause our stock price to decline. We face intense competition, and if we do not compete effectively our business will be harmed. Consolidation in the healthcare industry could have an adverse effect on our revenues and results of operations. Our inability to protect our intellectual property could have a material adverse effect on our business. Third parties may claim we are infringing their intellectual property, and we could suffer significant litigation or licensing expenses or be prevented from selling products. We and our customers are subject to rigorous governmental regulations and we may incur significant expenses to comply with these regulations and develop products that are compatible with these regulations. In addition, failure to comply with these regulations could subject us to substantial sanctions which could adversely affect our business, results of operations, and financial condition. Unsuccessful clinical trials or developmental procedures relating to products and development could have a material adverse effect on our prospects. We are subject to risks arising from concerns and/or regulatory actions relating to "mad cow disease." If third party payors decline to reimburse our customers for our products or impose other cost containment measures to reduce reimbursement levels, our ability to profitably sell our products will be harmed. Our operations are subject to environmental, health, and safety regulations that could result in substantial costs. The success of many of our products depends upon strong relationships with certain key physicians.

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1099800--3/2/2009--Edwards_Lifesciences_Corp