Anika Therapeutics (ANIK) received Australia regulatory approval to market MONOVISC® single-injection viscosupplement for the treatment of osteoarthritis pain in all synovial joints. MONOVISC is now available in 20+ counties, including the 3Q17 addition of India, and ANIK plans to add more in 2018.
Surgical Specialties will market MONOVISC throughout Australia and New Zealand per terms of a multi-year exclusive distribution agreement.
In reporting 2016 revenue, ANIK noted that MONOVISC remained the company's main growth driver—a theme that has continued through 1H17, with robust global demand supporting worldwide 2Q17 MONOVISC revenue growth of 22% year over year. For that same time period, U.S. end-user revenue grew 56%, and ex-U.S. grew 53%.
"We expect demand for MONOVISC and CINGAL to continue to drive our top and bottom line growth going forward." – Charles H. Sherwood, Ph.D., President and CEO, Anika Therapeutics 2Q17 Conference Call
Sources: Anika Therapeutics, Inc.; ORTHOWORLD Inc.