Sanofi’s Synvisc and Synvisc-One products, injections that replace hyaluronic acid in knee joints affected by osteoarthritis, continued their challenging year by posting 3Q18 revenue of $88.7MM, a year-over-year decline of 24.2%. Sales in the U.S., by far the largest market for Synvisc products, were especially hard hit, posting a 30.1% decline vs. 3Q17. In December 2017, Sanofi underwent a voluntary recall of one lot (approximately 18,000 syringes) of Synvisc-One units that had been distributed in the United States, citing the presence of microbial contaminants.
The company did not provide any Synvisc-specific commentary on their 3Q18 earnings call.
| 3Q18 | 3Q17 | $ Change | % Change |
| Orthobiologics | $88.7 | $117.0 | -$28.3 | -24.2% |
| YTD18 | YTD17 | $ Change | % Change |
| Orthobiologics | $285.8 | $370.9 | -$85.0 | -22.9% |
| Geographic Region | 3Q18 | 3Q17 | $ Change | % Change |
| US | $62.8 | $89.9 | -$27.1 | -30.1% |
| Ex-US | $25.9 | $27.1 | -$1.2 | -4.5% |
| Europe | $6.2 | $7.4 | -$1.2 | -16.7% |
| Emerging Markets | $16.0 | $17.2 | -$1.2 | -7.1% |
| Rest of World | $3.7 | $2.5 | $1.2 | 50.0% |
| Total | $88.7 | $117.0 | -$28.3 | -24.2% |
ORTHOWORLD projects Sanofi’s 2018 orthobiologic revenue at $379.1MM, -20% vs 2017. This is the second straight year of revenue loss for the Synvisc product line. Sanofi reported 2017 orthobiologic revenue of $476.8MM, -5.1% vs. 2016.
Sources: Sanofi; ORTHOWORLD estimates. All revenue figures presented in USD $MM using constant currency.
Mike Evers is ORTHOWORLD’s Market Analyst. He can be reached by email.
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