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Product / Company Performance

Anika Therapeutics Reports 1Q19 Orthobiologic Revenue of $21.7MM, +11.6% vs. 1Q18 -

By Mike Evers, ORTHOWORLD

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 trail 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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