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Bioventus reported 3Q21 orthopedic sales of $108.9 million, +26.8% vs. 3Q20. Recently acquired Bioness contributed $11 million in sales, accounting for nearly half of the company’s growth in the quarter. The company increased its full-year 2021 guidance to the range of $425 million to $430 million to reflect two full months of sales from Bioventus’ other recent acquisition, Misonix.
Bioventus acquired Bioness to enter the advanced rehabilitation market. Neither Bioness nor Misonix has a direct salesforce, and both represent opportunities for Bioventus to leverage its commercial infrastructure to accelerate growth. The company instituted a pilot program to utilize its existing call points and direct reps to sell the Bioness LG300 Go products for those suffering muscle weakness after knee replacement surgery.
The company’s joint pain management products grew in the double digits as well. Bioventu’s single-injection DUROLANE and three-injection GELSYN took share during the quarter. DUROLANE commands 20% of the single-injection market and Bioventus believes that can grow to 40% in the coming years. The product gained positive clinical news, albeit indirectly, during presentations at this year’s AAOS.
Bone graft substitute sales felt a heavier impact from procedure deferrals due to the pandemic. Still, that product line grew in the mid-single digits driven by the recent launch of OSTEOAMP Flowable. Bioventus’ “spinal hardware agnostic” approach helps it reach a wider swathe of the market and tends to smooth out disruptions.
“The AAOS comments on HA coming out of the meeting in September were an improvement over the somewhat tepid attitude toward HA back when they last reviewed this in 2013. Now despite that, the HA business overall has continued to grow at 3% to 5%. But the fact that DUROLANE is the highest molecular weight and they certainly correlated strong clinical results with high molecular weight HA, of course DUROLANE was not called out. But we know based on our data that it is the highest molecular weight and this is peer-reviewed data. We feel very good about that position. We feel very good about DUROLANE’s ability to continue to penetrate the single injection HA market.” – Bioventus CEO Ken Reali
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
| 3Q21 | 3Q20 | $ Chg | % Chg | |
|---|---|---|---|---|
| Orthobiologics | $78.4 | $65.9 | $12.5 | 19% |
| Other (Sitm Products) | $30.5 | $20.0 | $10.5 | 52.4% |
| Total | $108.9 | $85.9 | $23.0 | 26.8% |
| 9mo21 | 9mo20 | $ Chg | % Chg | |
|---|---|---|---|---|
| Orthobiologics | $215.7 | $161.1 | $54.5 | 33.8% |
| Other (Sitm Products) | $84.8 | $61.4 | $23.4 | 38% |
| Total | $300.5 | $222.6 | $77.9 | 35% |
Orthopedic Sales by Geography
| 3Q21 | 3Q20 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $99.2 | $78.9 | $20.3 | 25.7% |
| OUS | $9.7 | $7.0 | $2.7 | 38.5% |
| Total | $108.9 | $85.9 | $23.0 | 26.8% |
| 9mo21 | 9mo20 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $272.4 | $204.0 | $68.4 | 33.5% |
| OUS | $28.1 | $18.5 | $9.6 | 51.5% |
| Total | $300.5 | $222.6 | $77.9 | 35% |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $108.9 | |
| Cost of Sales | $29.8 | 27.4% |
| Selling and Admin | $69.6 | 64% |
| R&D | $6.2 | 5.7% |
| Other | $5.5 | 5.1% |
| Net Earnings | ($2.3) | (2.1%) |
Mike Evers is ORTHOWORLD’s Digital Content Strategist. He can be reached by email.
Bioventus reported 3Q21 orthopedic sales of $108.9 million, +26.8% vs. 3Q20. Recently acquired Bioness contributed $11 million in sales, accounting for nearly half of the company's growth in the quarter. The company increased its full-year 2021 guidance to the range of $425 million to $430 million to reflect two full months of sales from...
Bioventus reported 3Q21 orthopedic sales of $108.9 million, +26.8% vs. 3Q20. Recently acquired Bioness contributed $11 million in sales, accounting for nearly half of the company’s growth in the quarter. The company increased its full-year 2021 guidance to the range of $425 million to $430 million to reflect two full months of sales from Bioventus’ other recent acquisition, Misonix.
Bioventus acquired Bioness to enter the advanced rehabilitation market. Neither Bioness nor Misonix has a direct salesforce, and both represent opportunities for Bioventus to leverage its commercial infrastructure to accelerate growth. The company instituted a pilot program to utilize its existing call points and direct reps to sell the Bioness LG300 Go products for those suffering muscle weakness after knee replacement surgery.
The company’s joint pain management products grew in the double digits as well. Bioventu’s single-injection DUROLANE and three-injection GELSYN took share during the quarter. DUROLANE commands 20% of the single-injection market and Bioventus believes that can grow to 40% in the coming years. The product gained positive clinical news, albeit indirectly, during presentations at this year’s AAOS.
Bone graft substitute sales felt a heavier impact from procedure deferrals due to the pandemic. Still, that product line grew in the mid-single digits driven by the recent launch of OSTEOAMP Flowable. Bioventus’ “spinal hardware agnostic” approach helps it reach a wider swathe of the market and tends to smooth out disruptions.
“The AAOS comments on HA coming out of the meeting in September were an improvement over the somewhat tepid attitude toward HA back when they last reviewed this in 2013. Now despite that, the HA business overall has continued to grow at 3% to 5%. But the fact that DUROLANE is the highest molecular weight and they certainly correlated strong clinical results with high molecular weight HA, of course DUROLANE was not called out. But we know based on our data that it is the highest molecular weight and this is peer-reviewed data. We feel very good about that position. We feel very good about DUROLANE’s ability to continue to penetrate the single injection HA market.” – Bioventus CEO Ken Reali
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
| 3Q21 | 3Q20 | $ Chg | % Chg | |
|---|---|---|---|---|
| Orthobiologics | $78.4 | $65.9 | $12.5 | 19% |
| Other (Sitm Products) | $30.5 | $20.0 | $10.5 | 52.4% |
| Total | $108.9 | $85.9 | $23.0 | 26.8% |
| 9mo21 | 9mo20 | $ Chg | % Chg | |
|---|---|---|---|---|
| Orthobiologics | $215.7 | $161.1 | $54.5 | 33.8% |
| Other (Sitm Products) | $84.8 | $61.4 | $23.4 | 38% |
| Total | $300.5 | $222.6 | $77.9 | 35% |
Orthopedic Sales by Geography
| 3Q21 | 3Q20 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $99.2 | $78.9 | $20.3 | 25.7% |
| OUS | $9.7 | $7.0 | $2.7 | 38.5% |
| Total | $108.9 | $85.9 | $23.0 | 26.8% |
| 9mo21 | 9mo20 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $272.4 | $204.0 | $68.4 | 33.5% |
| OUS | $28.1 | $18.5 | $9.6 | 51.5% |
| Total | $300.5 | $222.6 | $77.9 | 35% |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $108.9 | |
| Cost of Sales | $29.8 | 27.4% |
| Selling and Admin | $69.6 | 64% |
| R&D | $6.2 | 5.7% |
| Other | $5.5 | 5.1% |
| Net Earnings | ($2.3) | (2.1%) |
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.
