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Orthopedic and Dental Industry News Complete Archive »

Musculoskeletal News Roundup 25-January-08 BY LAUREN UZDIENSKI, JANUARY 24, 2008

Earnings
JNJ reported 4Q:07 revenues of $15.96 billion, up 17% over the year-ago period and beating consensus estimates of $15.4 billion. Net income was $2.37 billion, or $0.82 per share, missing estimates by $0.04. Depuy reported 4Q:07 sales of $1.21 billion worldwide, representing an increase of 14% over the year-ago period. JNJ included DePuy's orthopaedic joint reconstruction and sports medicine businesses in a list of primary contributors to the company's operational growth.

Stryker reported 4Q:07 revenues of $1.66 billion, an 18.4% increase over the year-ago period. Revenues beat estimates by $0.06 billion. Net income was $276.1 million, or $0.66 per share, in line with analysts' estimates. Worldwide orthopedic implant revenues were $971.5 million, an increase of 17% over 4Q:06, which the company attributed to higher shipments of reconstructive, trauma, spinal and CMF implant systems; bone cement; and OP-1. Worldwide, revenues increased 9% in hip, 16% in knees, 19% in trauma and 25% in spine.

Funding
Ascension Orthopedics has raised $21.0 million in a Series D funding round. The company will use the funds to "expand its current product line and enhance its marketing and distribution network." The round was lead by Frazier Healthcare Ventures.

Progentix Orthobiology B.V., which is developing a line of bone regenerative products based on an osteoinductive material, announced this week that they have closed a Series A funding round. The round was led by BioGeneration Ventures, and funds will be used to "support further technology validation and the generation of clinical proof of principle."

OrthoMimetics has been awarded $1.5 million from the UK Technology Strategy Board to develop LigaMimetic, described as a porous, resorbable tissue-regeneration scaffold used in ACL reconstruction.

Regulatory
Stryker responded to its recent FDA warning letter saying the company does "not believe there is any clinical evidence to indicate that the products mentioned in the Warning Letter present a safety issue to patients." Still, the company initiated a voluntary recall of Trident PSL and Hemispherical Acetabular Cups its manufactured in its Cork, Ireland facility.

ConforMIS, Inc. received CE Mark approvals for both the iUni™ uni-compartmental resurfacing device and the iJig® instrument system, designed for use with the iUni. The company describes the device as a "resurfacing implant for the knee designed for patients whose arthritic damage is isolated to one of the tibiofemoral compartments of the knee, with little to no damage present in the other compartments."

Product Update
Spinal Elements announced that the Zyre Facet Implant System was implanted in the first patient in December 2007. The company describes it as minimally-invasive and tissue sparing as well as the "first arthroplasty system developed specifically to address facet joint pain."

Appointment
Andrew Miclot was appointed Ascension Orthopedics' new CEO this week. Miclot was formerly global senior vice president of marketing at Orthofix. The company's former CEO, founder Jerome Klawitter, will continue with Ascension as chief scientific officer.

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