Anika Therapeutics posted 2Q17 orthobiologic revenue of US $24.5MM, +5.0% vs. 2Q16, and 1H17 revenue of $44.7MM, +4.2% vs. 1H16.
2Q17 | 2Q16 | $ Change | % Change | |
Orthobiologics | $24.5 | $23.3 | $1.2 | 5.0% |
1H17 | 1H16 | $ Change | % Change | |
Orthobiologics | $44.7 | $42.9 | $1.8 | 4.2% |
Performance highlights:
- Includes $5.0MM milestone payment due to DePuy Mitek’s $100.0MM MONOVISC end-user sales within a 12-month period (ended 6/17); includes $1.0MM in CINGAL sales
- Ex-U.S. orthobiologics overall +50%, driven by MONOVISC as well as Canada/EU growth of CINGAL
- Canada CINGAL distributor, Pendopharm, observing shift from steroid use to CINGAL since mid-2016 launch
- Robust global demand for MONOVISC (Global +22%; U.S. end-user revenue +56%; ex-U.S. +53%)
- Ex-U.S. competition coming from generics
- Enrolled ~30 patients in supplemental Phase III trial of CINGAL for knee osteoarthritis; expects to complete 500-patient enrollment by end of 2017
- After quarter’s close, announced India regulatory approval for MONOVISC single-injection to treat OA in all human synovial joints; to be marketed by Modi-Mundipharma (will not contribute significantly to 2017 revenue); will expand sales to India, Australia and New Zealand over 6-9 months
- Continued progress in ongoing enrollment for FastTRACK Phase III HYALOFAST study (200 patients, cartilage repair) and Phase III MONOVISC (hip OA pain, sponsored by DePuy Mitek)
- Disappointed in hip application study enrollment; Johnson & Johnson has sought suggestions on how to enroll faster
- Appointed Joseph Darling as President, spearheading direct commercialization initiative; 20+ years of executive management experience, including time at Abbott, Baxter, ConMed, Interventional Spine, Smith & Nephew, Wyeth
“As we predicted, the U.S. market is migrating away from multi-injection options in favor of a
more convenient single-injection treatment [to treat knee OA pain].”
– Charles H. Sherwood, Ph.D., President and CEO
Source: Anika Therapeutics, Inc.
Anika Therapeutics posted 2Q17 orthobiologic revenue of US $24.5MM, +5.0% vs. 2Q16, and 1H17 revenue of $44.7MM, +4.2% vs. 1H16.
Q17
2Q16
$ Change
% Change
Orthobiologics
$24.5
$23.3 ...
Anika Therapeutics posted 2Q17 orthobiologic revenue of US $24.5MM, +5.0% vs. 2Q16, and 1H17 revenue of $44.7MM, +4.2% vs. 1H16.
2Q17 | 2Q16 | $ Change | % Change | |
Orthobiologics | $24.5 | $23.3 | $1.2 | 5.0% |
1H17 | 1H16 | $ Change | % Change | |
Orthobiologics | $44.7 | $42.9 | $1.8 | 4.2% |
Performance highlights:
- Includes $5.0MM milestone payment due to DePuy Mitek’s $100.0MM MONOVISC end-user sales within a 12-month period (ended 6/17); includes $1.0MM in CINGAL sales
- Ex-U.S. orthobiologics overall +50%, driven by MONOVISC as well as Canada/EU growth of CINGAL
- Canada CINGAL distributor, Pendopharm, observing shift from steroid use to CINGAL since mid-2016 launch
- Robust global demand for MONOVISC (Global +22%; U.S. end-user revenue +56%; ex-U.S. +53%)
- Ex-U.S. competition coming from generics
- Enrolled ~30 patients in supplemental Phase III trial of CINGAL for knee osteoarthritis; expects to complete 500-patient enrollment by end of 2017
- After quarter’s close, announced India regulatory approval for MONOVISC single-injection to treat OA in all human synovial joints; to be marketed by Modi-Mundipharma (will not contribute significantly to 2017 revenue); will expand sales to India, Australia and New Zealand over 6-9 months
- Continued progress in ongoing enrollment for FastTRACK Phase III HYALOFAST study (200 patients, cartilage repair) and Phase III MONOVISC (hip OA pain, sponsored by DePuy Mitek)
- Disappointed in hip application study enrollment; Johnson & Johnson has sought suggestions on how to enroll faster
- Appointed Joseph Darling as President, spearheading direct commercialization initiative; 20+ years of executive management experience, including time at Abbott, Baxter, ConMed, Interventional Spine, Smith & Nephew, Wyeth
“As we predicted, the U.S. market is migrating away from multi-injection options in favor of a
more convenient single-injection treatment [to treat knee OA pain].”
– Charles H. Sherwood, Ph.D., President and CEO
Source: Anika Therapeutics, Inc.
You are out of free articles for this month
Subscribe as a Guest for $0 and unlock a total of 5 articles per month.
You are out of five articles for this month
Subscribe as an Executive Member for access to unlimited articles, THE ORTHOPAEDIC INDUSTRY ANNUAL REPORT and more.
JV
Julie Vetalice is ORTHOWORLD's Editorial Assistant. She has covered the orthopedic industry for over 20 years, having joined the company in 1999.