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Product / Company Performance

DePuy Synthes Reports 3Q19 Revenue of $2,137, +1.2% vs. 3Q18 -

DePuy Synthes reported 3Q19 orthopedic revenue of USD $2,137MM, +1.2% vs. 3Q18.

 

  • Price pressure modestly improved compared to 2Q19, but still negative across all segments with spine, hips and trauma declining 2% and knees declining 1%
  • Continued strength for ACTIS hip stem and KINCISE automated surgical system, as well as leadership in the anterior surgical approach
  • Double-digit knee growth in ex-U.S. markets driven by ATTUNE Revision and offset by competitive pressure in the U.S.; within the quarter, the ATTUNE Cementless was launched in the U.S. market
  • Trauma gains driven by market growth and uptake of new products, such as the Femoral Neck System and Femoral Recon Nail; sales growth aided by one-time rebate reserve adjustment in the U.S.
  • Spine declines occurred primarily in the U.S.; newer products such as the VIPER PRIME system and CONDUIT interbody platform couldn’t offset share loss in the quarter
  • Partnership with Anika Therapeutics for MONOVISC and ORTHOVISC drove U.S. orthobiologics growth

 

ORTHOWORLD estimates segment sales and growth on an as-reported basis, as follows ($MM).

  3Q19 3Q18 $ Chg % Chg
Joint Replacement $799.9 $790.1 $9.8 1.2%
   Knees $352.8 $348.9 $3.9 1.1%
   Hips $344.8 $337.9 $6.9 2.0%
   Extremities $102.3 $103.4 -$1.1 -1.0%
Spine $342.1 $352.7 -$10.6 -3.0%
Trauma $648.8 $625.5 $23.3 3.7%
Sports Medicine $162.6 $157.2 $5.4 3.5%
Orthobiologics $97.3 $98.3 -$1.0 -1.0%
Other (CMF) $86.4 $87.2 -$0.9 -1.0%
Total $2,137.0 $2,111.0 $26.0 1.2%
  9Mo 19 9Mo 18 $ Chg % Chg
Joint Replacement $2,507.2 $2,531.9 -$24.7 -1.0%
   Knees $1,108.8 $1,134.4 -$25.5 -2.2%
   Hips $1,084.8 $1,077.4 $7.5 0.7%
   Extremities $313.5 $320.2 -$6.7 -2.1%
Spine $1,062.8 $1,092.7 -$29.9 -2.7%
Trauma $1,947.6 $1,936.7 $10.8 0.6%
Sports Medicine $483.8 $487.0 -$3.2 -0.7%
Orthobiologics $298.0 $304.4 -$6.4 -2.1%
Other (CMF) $264.6 $270.3 -$5.7 -2.1%
Total $6,564.0 $6,623.0 -$59.0 -0.9%

ORTHOWORLD estimates orthopaedic sales by geographic region as follows ($MM).

Geographic Region 3Q19 3Q18 $ Chg % Chg
US $1,300.0 $1,284.0 $16.0 1.2%
Ex-US $837.0 $827.0 $10.0 1.2%
EMEA $376.7 $372.2 $4.5 1.2%
Asia Pacific $297.1 $289.5 $7.7 2.7%
Rest of World $163.2 $165.4 -$2.2 -1.3%
Total $2,137.0 $2,111.0 $26.0 1.2%

Net earnings for all Johnson & Johnson revenue are as follows.

3Q19 Amt % of Sales
Sales $20,729.0  
   Cost of Sales -$6,867.0 33.1%
   Selling and Admin -$5,374.0 25.9%
   R & D -$2,599.0 12.5%
   Other -$1,056.0 5.1%
Net Earnings $4,833.0 23.3%

 

Sources: DePuy Synthes Companies of Johnson & Johnson; ORTHOWORLD estimates.

Mike Evers is ORTHOWORLD’s Market Analyst. He can be reached by email.

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