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Orthopedic and Dental Industry News

April 2009

Musculoskeletal News Roundup 30-Apr-09 BY LAUREN UZDIENSKI, APRIL 30, 2009

Earnings aap Implantate reported 2008 revenues of EUR 31.9 million ($45.0 million), a 14% increase over 2007 sales. Sales in the Trauma & Orthopedics division grew by 35%. Biomaterials sales increased by 4%, with the company attributing slower growth to... more

CDRH Holds Rare Meeting to Address Controversies and Plan for the Future BY LAUREN UZDIENSKI, APRIL 28, 2009

According to a report in the New York Times, CDRH officials met last week to discuss the "strategic direction" of the device-approvals division in the wake of both internal and external backlash. The events of this meeting have not been... more

Scient'x Groupe, S.A. Appointing Spinal Orthopedic Industry Executive Oliver Burckhardt as President and Chief Executive Officer BY EDITOR, APRIL 27, 2009

Scient'x Groupe, S.A. announced today that veteran industry executive Oliver Burckhardt is joining the company as its President and Chief Executive Officer following the retirement from the Company of Michael D. Huggins. Mr. Burckhardt was formerly President of Orthofix Spine,... more

Musculoskeletal News Roundup 23-Apr-09 BY LAUREN UZDIENSKI, APRIL 23, 2009

Earnings CONMED reported 1Q:09 revenues of $164.1 million, representing a 7% decrease over 1Q:08 and missing estimates by $9.5 million. Arthroscopic devices contributed $63.9 million in revenue, down 8% over 1Q:08, with the decline due largely to a 24% decrease... more

NuVasive to Acquire Cervitech for Up to $80 million BY LAUREN UZDIENSKI, APRIL 23, 2009

NuVasive announced yesterday afternoon that they would acquire NJ-based Cervitech for $47 million and up to $33 million upon the achievement of certain regulatory milestones. Up to half of these payments can be made in stock. Cervitech is developing the... more

Venture Funding Sinks in Q1, Though Healthcare Fares Better than Most Sectors BY DAVID KRESSEL, APRIL 21, 2009

The Wall Street Journal reported this week on a decline in first quarter venture funding, with venture-backed companies raising only $3.9 billion, down about 50% from 1Q:09. The Journal adds that this represents the lowest quarterly disbursement by VC firms... more

Don't Let Wii Sports Put You Down for the Count BY LAUREN UZDIENSKI, APRIL 21, 2009

Virtual sports are causing some very real injuries for fans of the Nintendo Wii, with physicians reporting Wii-related "sprains and strains" growing with the popularity of the gaming system. While no significant injuries have been reported (save a broken finger... more

Musculoskeletal News Roundup 16-Apr-09 BY LAUREN UZDIENSKI, APRIL 16, 2009

Earnings JNJ reported 1Q:09 sales of $15.0 billion, missing estimates by $0.4 billion and representing a 7% decline over 1Q:08, which the company attributed mostly to unfavorable exchange rates. Net income was $3.5 billion, or $1.26 per diluted share, beating... more

Early Earnings Reports Show Growth Despite Economy BY LAUREN UZDIENSKI, APRIL 16, 2009

DePuy and Biomet have kicked off 1Q earnings season on a positive note, offering a view of industry growth that may be outpacing expectations. These two companies, which together comprise more than a third of the ortho market, reported 7%... more

Teriparatide (Forteo) May Accelerate Bone Healing BY LAUREN UZDIENSKI, APRIL 15, 2009

Teriparatide, a recombinant form of parathyroid hormone marketed by Eli Lilly as Forteo, has been shown to stimulate stem cell production and accelerate the healing of fractured bones, according to study data presented at the Orthopaedic Research Society meeting in... more

Medtronic Talks "Disappointing" Kyphon Acqusition and Future Growth BY LAUREN UZDIENSKI, APRIL 15, 2009

In recent interviews, Medtronic CEO Bill Hawkins discussed some of the challenges associated with the company's $4.2 billion acquisition of Kyphon in 2007 as well as plans for future acquisitions. Kyphon brought innovative products and an entree into new markets,... more

FDA Requiring Safety and Effectiveness Data on Certain Class III Devices BY DAVID KRESSEL, APRIL 9, 2009

The FDA announced yesterday that it would be requiring companies who manufacture 25 specific devices marketed prior to 1976 to submit safety and effectiveness data so they can gauge product risk. The agency says this is in response to January's... more

Musculoskeletal News Roundup 9-Apr-09 BY LAUREN UZDIENSKI, APRIL 9, 2009

Earnings Biomet reported FQ3:09 revenues of $615 million, a 7% (constant currency) increase over FQ3:08. Among segments, recon reported growth of 7%, with hip up 10%, knee up 9%, fixation up 4% and dental down 10%, which the company attributed... more

WSJ Reports on ReGen's Campaign Donations BY LAUREN UZDIENSKI, APRIL 7, 2009

The WSJ published additional details of its investigation into ReGen Biologics' FDA clearance for its Menaflex meniscal implant. New information out this morning includes details of campaign donations from ReGen executives to the New Jersey politicians who stood behind ReGen... more

With Applications Beyond Vertebroplasty, Bone Cement Offers Pain Relief for Cancer Patients BY LAUREN UZDIENSKI, APRIL 6, 2009

Patients suffering crippling pain from metastatic cancer or even "benign" conditions like rheumatoid arthritis may find relief in a minimally-invasive treatment called osteoplasty. Similar to vertebroplasty, osteoplasty is the injection of bone cement into cancerous lesions in the skeleton, and... more

Orthofix Shareholders Vote Down Ramius Proposals BY LAUREN UZDIENSKI, APRIL 2, 2009

Orthofix announced some preliminary results from their Special General Meeting of Shareholders spurred by Ramius LLC's criticism of the company. Ramius, which owns 5.1% of Orthofix, was seeking to remove four members of the Board of Directors and replace them... more

Musculoskeletal News Roundup 2-Apr-09 BY LAUREN UZDIENSKI, APRIL 2, 2009

Earnings Corin reported 2008 revenues of GBP 39.8 million ($57.6 million), an 8% increase over 2007 sales. The company also reported a pretax loss of GBP 3.9 million ($5.6 million), which reflected a GBP 5.2 million ($7.2 million) inventory write-down... more

Scient'x Introduces its Isobar TTL In Lumbar Fusion System: First Implantations in Europe BY EDITOR, APRIL 2, 2009

Scient'x S.A., a privately-held company dedicated to the development, manufacture, and commercialization of spinal systems, announced the introduction of the IsobarTM TTL In System, the latest addition to its IsobarTM TTL line of thoraco-lumbar pedicle screw based systems. This system... more

Stryker's OP-1 Putty Not Approvable According to FDA Panel BY ARIELLA P. GOLOMB, MD, APRIL 1, 2009

Yesterday an FDA advisory panel voted 6-1 that Stryker's PMA for its OP-1 Putty for uninstrumented posterolateral fusion for the treatment of lumbar spondylolisthesis was "not approvable." Stryker was seeking this approval based on 24 months of clinical outcome data... more

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