Anika Therapeutics’ 4Q17 and 2017 Orthobiologic Revenue

Anika Therapeutics (ANIK) posted 4Q17 orthobiologic revenue of US $25.1MM, +3.1% vs. 4Q16, and 2017 revenue of $93.8MM, +4.6% vs. 2016.

MONOVISC hyaluronan injection sales remain the primary growth driver, increasing 21% for 4Q17 vs. 4Q16 and 29% for the full year, though partially offset by declines in ORTHOVISC High Molecular Weight Hyaluronan as industry continues its shift from multiple to single-injection viscosupplementation. During 2017, MONOVISC launched in Australia, India and Taiwan.

In reference to a trial of ORTHOVISC injection in the shoulder, which was run by DePuy Mitek, leadership noted a lack of data to support a premarket approval application.

CINGAL hyaluronic acid plus corticosteroid viscosupplement is now available in 10 markets ex-U.S., where >65,000 units have sold to date. Its rapid uptake in Canada, Germany and Italy has outpaced that of MONOVISC in the same time period post-launch—suggesting that CINGAL is perceived as clinically advantageous and also has great distributors. One focus for 2018 is the build-up of a direct commercialization structure for CINGAL in the U.S., so it’s all ready to go for the anticipated 2019 launch.

Enrollment for the FastTRACK trial of HYALOFAST HA-based scaffold is on track to complete by the end of 2018. Remember that this product is designed to repair cartilage tissue in knee and ankle lesions.

In 2017, Anika entered into academic R&D collaborations: one with the University of Massachusetts and one with University of Liverpool, to study a localized injectable candidate for rheumatoid arthritis, and an injectable mesenchymal stem cell therapy for osteoarthritis, respectively.

For 2018, ANIK will produce a prototype of a product for rotator cuff repair, complete the Phase III CINGAL trial and submit a New Drug Application to FDA and grow ex-U.S. sales of MONOVISC and CINGAL.

Source: Anika Therapeutics, Inc.