Seikagaku reported FY 1Q20 orthopedic revenue of ¥3,029.1 million (USD $28.2 million), -21.2% vs. 1Q19.
The company suffered negative impact from drug price reductions in Japan as well as spreading COVID infections in its key markets of Japan and the U.S. While Seikagaku increased its market share of viscosupplements in Japan, its overall domestic market contracted for the product. Sales of the Gel-One viscosupplement in the U.S. declined due to elective procedure restrictions. While economic activity in China resumed ahead of other regions, Seikagaku’s sales declined due to continued curtailment of outpatient procedures beyond April.
Revenue Data
All revenue data is provided in USD millions unless otherwise noted. Sales and growth rates are estimated on an as-reported basis.
Segment Sales
| 1Q20 | 1Q19 | $ Chg | % Chg | |
|---|---|---|---|---|
| Orthobiologics | $28.2 | $35.7 | ($7.6) | (21.2%) |
Geographic Sales
| 1Q20 | 1Q19 | $ Chg | % Chg | |
|---|---|---|---|---|
| Domestic (Japan) | $16.5 | $16.5 | $0.0 | 0.1% |
| International | $11.7 | $19.3 | ($7.6) | (39.4%) |
| Total | $28.2 | $35.7 | ($7.6) | (21.2%) |
Mike Evers is ORTHOWORLD’s Digital Content Strategist. He can be reached by email.