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Home Industry News Orthovita sales on the up in third quarter

Orthovita sales on the up in third quarter

22nd October 2010

Orthovita has hailed the success of its third quarter business initiatives after reporting "modest" product sales growth for the three-month period.

According to the company's latest financial report, the medical technology firm accrued $23.3 million (14.8 million pounds) in sales during the period, up five percent on the $22.3 million figure recorded in Q3 2009.

It means that sales for the fiscal year thus far are four per cent ahead of their levels from the corresponding period of last year, with products such as Vitoss synthetic bone grafts and Cortoss bone augmentation material seeing gains.

The firm also initiated a restructuring initiative in August 2010 that is designed to make its business dealings more efficient and allow it to meet market demands more effectively.

Antony Koblish, president and chief executive officer of Orthovita, said: "While we are in the early stages of making this transition, we are encouraged that we achieved modest year-over-year increases in third quarter 2010 product sales, despite general weakness in the spine market."

Last month, the company published data from clinical studies which supported the safety and efficacy of the Cortoss range.ADNFCR-8000103-ID-800137159-ADNFCR

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