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Anika Therapeutics to Log $5MM Milestone Payment for MONOVISC

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Anika Therapeutics (ANIK) will receive a US $5MM milestone payment per terms of the MONOVISC® license agreement with U.S. commercial partner, DePuy Mitek. The payment was triggered by $100.0MM in U.S. end-user sales within a consecutive 12-month period at the end of 2Q17.

MONOVISC remains the company's main growth driver. For 1Q17, ANIK reported that MONOVISC sales grew +24% worldwide vs. 1Q16, with U.S. sales increasing by +26%. 

ANIK will report 2Q17 results on July 26.

Sources: Anika Therapeutics, Inc.; ORTHOWORLD Inc.