Anika Therapeutics reported 1Q19 orthobiologic revenue of USD $21.7MM, +11.6% vs. 1Q18.
- Growth driven by higher global revenue of viscosupplements and HYAFF-based products
- Ex-U.S. sales of single injection treatments up 18%
- Remain on track for 2H19 launch of bone repair therapy product with expected U.S. market opportunity of $250 to $300MM annually
- HYALOFAST Phase III trial enrolled at 55% with 37 sites initiated (estimated $500MM U.S. annual market opportunity)
- Continued implementation of hybrid commercial structure, pairing small in-house business development team with strategic partners who have an orthopedic sales force
Segment sales are as follows ($MM):
1Q19 | 1Q18 | $ Chg | % Chg | |
Orthobiologics | $21.7 | $19.5 | $2.3 | 11.6% |
Sales by geographic area are as follows ($MM):
Geographic Region | 1Q19 | 1Q18 | $ Chg | % Chg |
US | $17.6 | $15.40 | $2.2 | 14.4% |
Ex-US | $4.1 | $4.1 | $0.0 | 1.0% |
Europe | $2.17 | $2.14 | $0.0 | 1.5% |
Other | $2.0 | $2.0 | $0.0 | 0.4% |
Grand Total | $21.7 | $19.5 | $2.3 | 11.6% |
Net earnings, inclusive of all Anika revenue, are as follows:
1Q19 | Amount ($MM) | % of Sales |
Sales | $24.7 | |
Cost of Sales | -$7.3 | 29.6% |
R & D | -$4.3 | 17.2% |
Selling and Admin | -$7.7 | 31.0% |
Other | -$1.0 | 3.9% |
Net Earnings | $4.5 | 18.2% |
Sources: Anika Therapeutics
Mike Evers is ORTHOWORLD’s Market Analyst. He can be reached by email.
Anika Therapeutics reported 1Q19 orthobiologic revenue of USD $21.7MM, +11.6% vs. 1Q18.
Growth driven by higher global revenue of viscosupplements and HYAFF-based products
Ex-U.S. sales of single injection treatments up 18%
Remain on track for 2H19 launch of bone repair therapy product with expected U.S. market opportunity of $250...
Anika Therapeutics reported 1Q19 orthobiologic revenue of USD $21.7MM, +11.6% vs. 1Q18.
- Growth driven by higher global revenue of viscosupplements and HYAFF-based products
- Ex-U.S. sales of single injection treatments up 18%
- Remain on track for 2H19 launch of bone repair therapy product with expected U.S. market opportunity of $250 to $300MM annually
- HYALOFAST Phase III trial enrolled at 55% with 37 sites initiated (estimated $500MM U.S. annual market opportunity)
- Continued implementation of hybrid commercial structure, pairing small in-house business development team with strategic partners who have an orthopedic sales force
Segment sales are as follows ($MM):
1Q19 | 1Q18 | $ Chg | % Chg | |
Orthobiologics | $21.7 | $19.5 | $2.3 | 11.6% |
Sales by geographic area are as follows ($MM):
Geographic Region | 1Q19 | 1Q18 | $ Chg | % Chg |
US | $17.6 | $15.40 | $2.2 | 14.4% |
Ex-US | $4.1 | $4.1 | $0.0 | 1.0% |
Europe | $2.17 | $2.14 | $0.0 | 1.5% |
Other | $2.0 | $2.0 | $0.0 | 0.4% |
Grand Total | $21.7 | $19.5 | $2.3 | 11.6% |
Net earnings, inclusive of all Anika revenue, are as follows:
1Q19 | Amount ($MM) | % of Sales |
Sales | $24.7 | |
Cost of Sales | -$7.3 | 29.6% |
R & D | -$4.3 | 17.2% |
Selling and Admin | -$7.7 | 31.0% |
Other | -$1.0 | 3.9% |
Net Earnings | $4.5 | 18.2% |
Sources: Anika Therapeutics
Mike Evers is ORTHOWORLD’s Market Analyst. 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.