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Anika Therapeutics reported 1Q22 orthopedic sales of $34.9 million, +10.6% vs. 1Q21.
The growth came primarily from favorable order timing in the company’s OA pain management line. Given the quarter-to-quarter choppiness in ordering, Anika still expects low single-digit growth for the full year in this business.
The company’s other segments suffered more from early-year COVID pressures but showed signs of recovery in February and March. More help is on the way from the new VP of US Sales Rob Delp, an industry veteran most recently with Zimmer Biomet.
Anika has several launches within shoulder as well as foot and ankle planned in the next 24 months. The shoulder offerings in particular offer compelling synergies and are well suited for the ASC environment.
Company CEO Dr. Cheryl Blanchard said, “Our new suture anchor offering in combination with the recently launched indication for TACTOSET is providing additional growth opportunities in the shoulder, specifically focused on the ASC call point. We also continue to make great progress on a rotator cuff repair system that includes a regenerative component for augmentation.”
Anika’s new product development will start adding meaningful growth in 2023 and beyond. For 2022, the company reiterated its previous guidance of low single-digit to mid-single-digit growth.
Orthopedic Sales Data
All orthopedic sales data is provided in USD millions unless otherwise noted. Orthopedic sales and growth rates are estimated on an as-reported basis.
Orthopedic Sales by Segment
| 1Q22 | 1Q21 | $ Chg | % Chg | |
|---|---|---|---|---|
| Joint Replacement | $7.2 | $7.4 | ($0.1) | (1.8%) |
| Knees | $1.5 | $1.4 | $0.1 | 5.2% |
| Extremities | $5.8 | $6.0 | ($0.2) | (3.4%) |
| Sports Medicine | $4.9 | $4.9 | $0.0 | 1% |
| Orthobiologics | $22.7 | $19.3 | $3.4 | 17.7% |
| Total | $34.9 | $31.5 | $3.3 | 10.6% |
Orthopedic Sales by Geography
| 1Q22 | 1Q21 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $25.4 | $23.0 | $2.4 | 10.7% |
| OUS | $9.4 | $8.5 | $0.9 | 10.4% |
| EMEA | $5.5 | $5.0 | $0.5 | 9.3% |
| Rest of World | $3.9 | $3.5 | $0.4 | 12% |
| Total | $34.9 | $31.5 | $3.3 | 10.6% |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $36.7 | |
| Cost of Sales | $14.7 | 40% |
| R & D | $19.2 | 52.3% |
| Selling and Admin | $6.2 | 16.8% |
| Other | ($0.3) | (0.9%) |
| Net Earnings | ($3.0) | (8.2%) |
Mike Evers is ORTHOWORLD’s Digital Content Strategist. He can be reached by email.
Anika Therapeutics reported 1Q22 orthopedic sales of $34.9 million, +10.6% vs. 1Q21.
The growth came primarily from favorable order timing in the company's OA pain management line. Given the quarter-to-quarter choppiness in ordering, Anika still expects low single-digit growth for the full year in this business.
The company's other segments...
Anika Therapeutics reported 1Q22 orthopedic sales of $34.9 million, +10.6% vs. 1Q21.
The growth came primarily from favorable order timing in the company’s OA pain management line. Given the quarter-to-quarter choppiness in ordering, Anika still expects low single-digit growth for the full year in this business.
The company’s other segments suffered more from early-year COVID pressures but showed signs of recovery in February and March. More help is on the way from the new VP of US Sales Rob Delp, an industry veteran most recently with Zimmer Biomet.
Anika has several launches within shoulder as well as foot and ankle planned in the next 24 months. The shoulder offerings in particular offer compelling synergies and are well suited for the ASC environment.
Company CEO Dr. Cheryl Blanchard said, “Our new suture anchor offering in combination with the recently launched indication for TACTOSET is providing additional growth opportunities in the shoulder, specifically focused on the ASC call point. We also continue to make great progress on a rotator cuff repair system that includes a regenerative component for augmentation.”
Anika’s new product development will start adding meaningful growth in 2023 and beyond. For 2022, the company reiterated its previous guidance of low single-digit to mid-single-digit growth.
Orthopedic Sales Data
All orthopedic sales data is provided in USD millions unless otherwise noted. Orthopedic sales and growth rates are estimated on an as-reported basis.
Orthopedic Sales by Segment
| 1Q22 | 1Q21 | $ Chg | % Chg | |
|---|---|---|---|---|
| Joint Replacement | $7.2 | $7.4 | ($0.1) | (1.8%) |
| Knees | $1.5 | $1.4 | $0.1 | 5.2% |
| Extremities | $5.8 | $6.0 | ($0.2) | (3.4%) |
| Sports Medicine | $4.9 | $4.9 | $0.0 | 1% |
| Orthobiologics | $22.7 | $19.3 | $3.4 | 17.7% |
| Total | $34.9 | $31.5 | $3.3 | 10.6% |
Orthopedic Sales by Geography
| 1Q22 | 1Q21 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $25.4 | $23.0 | $2.4 | 10.7% |
| OUS | $9.4 | $8.5 | $0.9 | 10.4% |
| EMEA | $5.5 | $5.0 | $0.5 | 9.3% |
| Rest of World | $3.9 | $3.5 | $0.4 | 12% |
| Total | $34.9 | $31.5 | $3.3 | 10.6% |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $36.7 | |
| Cost of Sales | $14.7 | 40% |
| R & D | $19.2 | 52.3% |
| Selling and Admin | $6.2 | 16.8% |
| Other | ($0.3) | (0.9%) |
| Net Earnings | ($3.0) | (8.2%) |
Mike Evers is ORTHOWORLD’s Digital Content Strategist. He can be reached by email.
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ME
Mike Evers is a Senior Market Analyst and writer with over 15 years of experience in the medical industry, spanning cardiac rhythm management, ER coding and billing, and orthopedics. He joined ORTHOWORLD in 2018, where he provides market analysis and editorial coverage.
