Musculoskeletal News Roundup 6-Mar-08
BY LAUREN UZDIENSKI, MARCH 6, 2008
Earnings
Anika Therapeutics reported 4Q:07 product revenue of $7.9 million, in line with estimates and up from $5.08 million for the same period last year. The revenue growth was attributed to domestic and international sales of the ORTHOVISC product line, which contributed $4.71 million to the company's total product revenue. Net income for 4Q:07 was $1.67 million, or $0.15 per diluted share, beating estimates of $0.14 per share and up from $1.05 million, or $0.09 per diluted share, in 4Q:06.
Integra LifeSciences reported 4Q:07 revenue of $157.6 million, an increase of 26% over 4Q:06. Revenues beat estimates by $5.2 million. The company has asked the SEC for permission to delay its fourth quarter and annual filings, and no further financial information was released.
OrthoLogic reported a net loss for 2007 of $10.1 million, or $0.24 per share, improved from a net loss of $31.9 million, or $0.78 per share, for 2006. The $21.8 million decrease in net loss was attributed to a number of reasons, among them: reduced R&D costs, management changes and staff reductions; and lower costs for Phase 3 and Phase 2b clinical trials, which were largely completed as of year end 2006.
Product Introduction
Biomet, Inc. launched the Phoenix Tibial Nail, which features CoreLock technology. This product is the first in a series of Phoenix Intramedullary Nails Biomet Trauma plans to introduce this year.
LifeNet Health launched the VertiGraft VG1 Cervical Bio-implant to be used in anterior cervical fusion procedures. The implant was co-developed by LifeNet Health and DePuy Spine and is exclusively represented in the U.S. by DePuy Spine.
K2M, Inc. launched the ALEUTIAN AN (Anatomically Narrow) and the ALEUTIAN Anterior - Lumbar Spacer Systems. In the press release, the company says ALEUTIAN addresses "varying surgical approaches and different parts of the spine" and are made from PEEK.
Smith & Nephew has introduced its VERILAST Technology for knee arthroplasty devices. The company describes the material as a combination of the Oxinium material and a highly cross-linked polyethylene.
ETEX Corporation launched Beta-bsm Injectable Paste and Gamma-bsm Moldable Putty, bone substitute materials based on ETEX's proprietary nanocrystalline calcium phosphate technology. ETEX describes the products offer "faster setting times, higher compressive strength and improved cohesiv
