Vericel reported 3Q22 orthopedic sales of $31 million, +29.8% compared to the third quarter of 2021.
The company’s MACI product defied normal seasonality. It grew 8% sequentially in the third quarter despite the usually flat summer season. However, Vericel said the overall cartilage repair market declined 10% this year due to ongoing patient flow disruption from the COVID pandemic.
Patient flow disruption caused Vericel to lower its MACI guidance to the range of $130 to $132 million for 2022, down from a previous high of $141 million.
MACI’s arthroscopic delivery and ankle projects remain on track, however. Vericel expects to meet with the FDA in December regarding arthroscopic delivery and again in the first quarter of 2023 regarding the ankle program.
Orthopedic Sales Data
All orthopedic sales data is provided in USD millions unless otherwise noted. Orthopedic sales and growth rates are estimated on an as-reported basis.
Orthopedic Sales by Segment
3Q22
3Q21
$ Chg
% Chg
Orthobiologics
$31.0
$23.9
$7.1
29.8%
9mo22
9mo21
$ Chg
% Chg
Orthobiologics
$85.6
$74.2
$11.4
15.4%
Company Earnings
Amt
% of Sales
Sales
$38.6
Cost of Sales
$13.3
34.5%
General and Admin
$27.0
70%
R & D
$5.0
13.1%
Other
($0.2)
(0.5%)
Net Earnings
($6.6)
(17.1%)
Vericel reported 3Q22 orthopedic sales of $31 million, +29.8% compared to the third quarter of 2021.
The company's MACI product defied normal seasonality. It grew 8% sequentially in the third quarter despite the usually flat summer season. However, Vericel said the overall cartilage repair market declined 10% this year due to ongoing...
Vericel reported 3Q22 orthopedic sales of $31 million, +29.8% compared to the third quarter of 2021.
The company’s MACI product defied normal seasonality. It grew 8% sequentially in the third quarter despite the usually flat summer season. However, Vericel said the overall cartilage repair market declined 10% this year due to ongoing patient flow disruption from the COVID pandemic.
Patient flow disruption caused Vericel to lower its MACI guidance to the range of $130 to $132 million for 2022, down from a previous high of $141 million.
MACI’s arthroscopic delivery and ankle projects remain on track, however. Vericel expects to meet with the FDA in December regarding arthroscopic delivery and again in the first quarter of 2023 regarding the ankle program.
Orthopedic Sales Data
All orthopedic sales data is provided in USD millions unless otherwise noted. Orthopedic sales and growth rates are estimated on an as-reported basis.
Orthopedic Sales by Segment
3Q22
3Q21
$ Chg
% Chg
Orthobiologics
$31.0
$23.9
$7.1
29.8%
9mo22
9mo21
$ Chg
% Chg
Orthobiologics
$85.6
$74.2
$11.4
15.4%
Company Earnings
Amt
% of Sales
Sales
$38.6
Cost of Sales
$13.3
34.5%
General and Admin
$27.0
70%
R & D
$5.0
13.1%
Other
($0.2)
(0.5%)
Net Earnings
($6.6)
(17.1%)
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Mike Evers is a Senior Market Analyst and writer with over 15 years of experience in the medical industry, spanning cardiac rhythm management, ER coding and billing, and orthopedics. He joined ORTHOWORLD in 2018, where he provides market analysis and editorial coverage.
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