Musculoskeletal News Roundup 25-Nov-09
BY LAUREN UZDIENSKI, NOVEMBER 25, 2009
Earnings
ArthroCare reported 3Q:09 sales of $76.4 million, representing an increase of 8% over 3Q:08. Analysts had forecast total revenues of $84.3 million. Sports medicine contributed $50.6 million in sales, up 11% over the year-ago period, and spine contributed $4.5 million, down 11% over the year-ago period. Net loss was $4.4 million, or $1.18 per share, primarily due to expenses relating to an investigation into company operations and the restatement of its financials. The company is now current with its SEC filings.
Medtronic reported FQ2:10 revenue of $3.84 billion, representing an 8% increase over the year-ago period and beating estimates by $0.9 billion. Net income was $868.0 million, or $0.78 per share, improving from FQ2:10 net income of $547.0 million, or $0.48 per share, and beating estimates by $0.04. Spine and biologics revenue increased 4% to $862.0 million, with core spine increasing by 2% and biologics revenue increasing by 12%. All growth rates exclude the effects of currency.
Regulatory
DGIMED ORTHO received 510(k) clearance for its Drill and Intramedullary Nail system. The company says the system allows for an "innovative approach to ensure the accurate placement of the distal locking screws" used in the treatment of long bone fractures.
Product Introduction and Update
HydroCision Inc. launched the SpineJet Percutaneous Curved Access Set for use in herniated disc procedures. The company says offering curved access for its fluidjet technology can "assist physicians in reaching difficult-to-approach areas of the back through very small incisions."
OrthoView introduced its OV Image Share software, which allows surgeons to transfer images and pre-operative plans over the internet. The company says the new feature is fully integrated with OrthoView's planning and templating software.
Collaborations
Smith & Nephew signed a technology development contract with the U.S. Department of Defense and DARPA to develop a resorbable "fracture putty" to aid in the healing of soldiers who receive traumatic injuries in battle. No specific information about the material was given, though the company says it aims to "provide substantial support of the injured limb early in the body's natural healing process so the soldier can more quickly participate in physical therapy." They add that the system may help prevent secondary fractures and infections, multiple surgeries, long rehabilitation times and amputations associated with battlefield injuries.
