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Product / Company Performance
Anika Therapeutics 4Q16 and 2016 Revenue
Anika Therapeutics posted 2016 orthobiologic revenue of US $89.7MM, +22.5% vs. 2015, with 4Q16 revenue of $24.4MM, +13.2% vs. 4Q15.
- CINGAL viscosupplement contributed between $1MM and $2MM, primarily in Canada, Germany, some eastern EU countries
- MONOVISC remains main revenue growth driver, with full-year product sales +54% vs. 2015
- ORTHOVISC and MONOVISC maintained market-leading positions
- Within 4Q, received CE Mark approval for ORTHOVISC-T injection, indicated to relieve pain and restore function in tendons affected by chronic lateral epicondylosis
- Expects to launch Phase III CINGAL trial and ORTHOVISC-T in Europe in 1H17
- Phase III trial for ORTHOVISC-T slated for late 2017
- Phase III FastTRACK trial of HyaloFast cartilage repair scaffold continues; >50% enrollment expected by end of 2017
- Expects to launch CINGAL in India and Australia in 2017 and 2018, respectively
Sources: Anika Therapeutics, Inc.; ORTHOWORLD Inc.
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