Seikagaku International Sales Tumble Amid COVID Surge

By Mike Evers

Seikagaku International Sales Tumble Amid COVID Surge

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.

Product Labels: Viscosupplement

Tags: Revenue Report