Dental News Roundup October 2010
BY LAUREN UZDIENSKI, OCTOBER 29, 2010
Earnings
Align Technology reported 3Q:10 revenues of $95.9 million, up 21% over 3Q:09 and beating estimates by $1.5 million. 66,200 cases were shipped during the quarter, a 17% increase over 3Q:09. Non-GAAP net income for the quarter was $19.3 million, or $0.25 per diluted share, up from $8.9 million, or $0.13 per diluted share, in 3Q:09. EPS beat estimates by $0.07.
Biomet reported FQ1:11 sales of $641.0 million, up 3% over the year-ago period. The company said sales increases were below expectations and related to procedure volume deceleration. Dental sales declined by 1% during the quarter. Growth rates exclude the effects of currency. Adjusted net income for the quarter was $50.8 million, which compares to adjusted net income of $49.2 million in FQ1:10.
Stating that the dental industry continued to "grow modestly" during 3Q:10, Dentsply reported revenues of $541.8 million for the quarter, up 2% over 3Q:09 and beat estimates by $11.8 million. EPS of $0.44 per share declined from EPS of $0.45 per share in 3Q:09 and missed estimates by $0.01.
Straumann reported 3Q:10 revenues of CHF 161.6 million ($165.5 million), up 3% from the year-ago period and missing estimates by CHF 6.4 million ($6.6 million). North American revenues increased by 7% during the quarter, while Europe increased by 1%, and AP grew by 2%. The company said they anticipate their market will grow in the low-single-digit range in 2010, and they expect their full-year 2010 revenues to be in line with 2009.
Zimmer reported 3Q:10 sales of $965.0 million, down 1% over the year-ago period and missing estimates by $30.2 million. The company said the quarter was "affected by challenging global economic conditions." Dental sales increased by 5%. Growth rates exclude the effects of currency. Diluted EPS increased by 9% during the quarter to $0.96, missing estimates by $0.03.
Regulatory
Align Technology received Chinese regulatory approval to market and sell the Invisalign system as a Class II medical device for the treatment of malocclusion. The company also received its License of Medical Device Operation Enterprise from the Shanghai Food and Drug Administration, which allows the company to distribute Invisalign in China. Align expects launch Invisalign in China in 2H:11.
The FDA will hold an advisory panel on December 14-15, 2010, to discuss scientific issues relating to the regulation of dental amalgam. The press release says the panel will focus particularly on the potential risk to vulnerable populations, such as pregnant women, fetuses and young children.
Product Introduction and Update
Astra Tech introduced a new warranty program for its Atlantis dental abutments, which can be used in conjunction with a range of implant systems. The warranty will cover both the abutment and the implant, even if the implant's supplier is a competitor company.
Nobel Biocare launched the Replace Select TC, which the company describes as a one-stage implant "designed to simplify treatments for overdenture solutions." The device features a 3mm machined tissue-level collar that offers "immediate and easy access to the implant platform." The company also broadened its NobelReplace and Replace Select Tapered implant lines to include new implant lengths, a new plate for the surgical kit that "better identifies and supports the surgical workflow" and radio-opaque impression copings.
Straumann launched MembraGel, a "new-generation" membrane for use in guided oral bone regeneration procedures. The product consists of a polyethylene glycol membrane that is applied as a liquid and sets in situ. The company notes that given the unique handling characteristics, they're combining the launch with an education program, and the product will be available only to dentists who have completed the training.
Appointments
Nobel Biocare announced that Executive Vice President of Key Account Management Robert Gottlander has resigned to "pursue new opportunities outside the company." According to the press release, he will resign his duties immediately but remain with the company for special projects through May of 2011. No replacement has been named.
Miscellaneous
Happy Halloween! Family dentist Dr. Carolyn Taggart-Burns of Omaha has identified the best (saliva-stimulating lollipops and hard candy, antioxidant-rich chocolate) and worst (acidic or gummy candy) treats for your teeth. An even more teeth-friendly option are candy buybacks, which are going on around the country. Kids drop off their excess candy for $1 per pound, and the candy then gets sent to troops overseas.
