SeaSpine Reports 2Q16 Revenue
SeaSpine (SPNE) announced 2Q16 revenue of US $33.2MM, -0.8% vs. 2Q15. Growth is as reported.
Geographic and product segment sales and growth, as reported, follow:
U.S. $30.0MM, +1.5%; ex-U.S. $3.2MM, -17.8%
- Spine $16.4MM, -0.2% (U.S. $15.1MM, +1.5%)
- Orthobiologics $16.8MM, -1.3% (U.S. $14.9MM, +1.5%)
In the U.S., revenue growth was led by growth from NanoMetalene-coated interbody devices, cervical fixation systems, the expandable interbody device and 3rd-gen demineralized bone matrix. The anticipated decrease in ex-U.S. sales is attributed to large stocking orders placed in 2Q15 to minimize disruption during the spin-off from Integra LifeSciences. Notably, ex-U.S. revenue grew +11.7% from 1Q16 to 2Q16.
In late 2Q, the company commenced full commercial launch of the Hollywood™ VI (variable insertion) NanoMetalene® TLIF (transforaminal lumbar interbody fusion) device. Year-to-date, SPNE has launched 4 new or next-gen products or line extensions, staying on track for its goal of 8 to 10 launches.