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BONESUPPORT, a Scandinavian orthobiologics company that markets CERAMENT bone void filler, considers 2018 a transition year in which they’ll bear a temporary decline in revenue to develop their U.S. distribution network. The May 2018 termination of their U.S. distribution agreement with Zimmer Biomet allowed BONESUPPORT to begin selling CERAMENT BVF through independent distributors on October 22. As such, the company reported no U.S. revenue for 3Q18. Having attracted U.S. distributors with more than 500 sales reps, BONESUPPORT expects strong 2019 total sales and 40% annual growth moving forward.
Sales in Europe grew 29%, driven by antibiotic-eluting products CERAMENT G and CERAMENT V. While the company still has low market penetration in some large European cities, they are progressing in their plan to double the salesforce there by year end. Recruitment led to accelerated sales in Q3, especially in the trauma segment, which represents a significant opportunity for CERAMENT.
In further portfolio development, the company has four CERAMENT-enhanced products in the pre-clinical development pipeline, which include combinations of biophosphonates, bone morphogenic protein, bone marrow aspirate and stem cells.
In May, the company signed an agreement with Collagen Matrix to gain access to several products based on natural and synthetic bone material. In August, BONESUPPORT entered an agreement with MTF Biologics for access to two bone graft substitutes containing demineralized bone matrix. These additional products will help strengthen the company’s U.S. offerings in 2019 and beyond.
BONESUPPORT’s 3Q18 and YTD segment sales and growth on an as-reported basis as follows.
| 3Q18 | 3Q17 | $ Change | % Change | |
| Orthobiologics | $1.7 | $3.9 | -$2.2 | -56.4% |
| YTD18 | YTD17 | $ Change | % Change | |
| Orthobiologics | $8.8 | $12.3 | -$3.4 | -28.1% |
BONESUPPORT’s revenue by geographic region is as follows.
| Geographic Region | 3Q18 | 3Q17 | $ Change | % Change |
| US | $0.0 | $2.6 | -$2.6 | -100.0% |
| Ex-US | $1.7 | $1.3 | $0.4 | 28.6% |
| Total | $1.7 | $3.9 | -$2.2 | -56.4% |
Net earnings for 3Q18 are as follows.
| 3Q18 | Amount ($MM) | % of Sales |
| Sales | $1.7 | |
| Cost of Sales | -$0.2 | 9.1% |
| Sales and Marketing | -$4.2 | 246.4% |
| Administrative | -$2.1 | 122.8% |
| R&D | -$2.0 | 115.1% |
| Other | -$0.2 | 12.6% |
| Net Earnings | -$6.9 | -406.1% |
Sources: BONESUPPORT AB; ORTHOWORLD estimates. All revenue figures presented in USD $MM.
Mike Evers is ORTHOWORLD’s Market Analyst. He can be reached by email.
BONESUPPORT, a Scandinavian orthobiologics company that markets CERAMENT bone void filler, considers 2018 a transition year in which they’ll bear a temporary decline in revenue to develop their U.S. distribution network. The May 2018 termination of their U.S. distribution agreement with Zimmer Biomet allowed BONESUPPORT to begin selling...
BONESUPPORT, a Scandinavian orthobiologics company that markets CERAMENT bone void filler, considers 2018 a transition year in which they’ll bear a temporary decline in revenue to develop their U.S. distribution network. The May 2018 termination of their U.S. distribution agreement with Zimmer Biomet allowed BONESUPPORT to begin selling CERAMENT BVF through independent distributors on October 22. As such, the company reported no U.S. revenue for 3Q18. Having attracted U.S. distributors with more than 500 sales reps, BONESUPPORT expects strong 2019 total sales and 40% annual growth moving forward.
Sales in Europe grew 29%, driven by antibiotic-eluting products CERAMENT G and CERAMENT V. While the company still has low market penetration in some large European cities, they are progressing in their plan to double the salesforce there by year end. Recruitment led to accelerated sales in Q3, especially in the trauma segment, which represents a significant opportunity for CERAMENT.
In further portfolio development, the company has four CERAMENT-enhanced products in the pre-clinical development pipeline, which include combinations of biophosphonates, bone morphogenic protein, bone marrow aspirate and stem cells.
In May, the company signed an agreement with Collagen Matrix to gain access to several products based on natural and synthetic bone material. In August, BONESUPPORT entered an agreement with MTF Biologics for access to two bone graft substitutes containing demineralized bone matrix. These additional products will help strengthen the company’s U.S. offerings in 2019 and beyond.
BONESUPPORT’s 3Q18 and YTD segment sales and growth on an as-reported basis as follows.
| 3Q18 | 3Q17 | $ Change | % Change | |
| Orthobiologics | $1.7 | $3.9 | -$2.2 | -56.4% |
| YTD18 | YTD17 | $ Change | % Change | |
| Orthobiologics | $8.8 | $12.3 | -$3.4 | -28.1% |
BONESUPPORT’s revenue by geographic region is as follows.
| Geographic Region | 3Q18 | 3Q17 | $ Change | % Change |
| US | $0.0 | $2.6 | -$2.6 | -100.0% |
| Ex-US | $1.7 | $1.3 | $0.4 | 28.6% |
| Total | $1.7 | $3.9 | -$2.2 | -56.4% |
Net earnings for 3Q18 are as follows.
| 3Q18 | Amount ($MM) | % of Sales |
| Sales | $1.7 | |
| Cost of Sales | -$0.2 | 9.1% |
| Sales and Marketing | -$4.2 | 246.4% |
| Administrative | -$2.1 | 122.8% |
| R&D | -$2.0 | 115.1% |
| Other | -$0.2 | 12.6% |
| Net Earnings | -$6.9 | -406.1% |
Sources: BONESUPPORT AB; ORTHOWORLD estimates. All revenue figures presented in USD $MM.
Mike Evers is ORTHOWORLD’s Market Analyst. He can be reached by email.
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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.
