Synthes reported a net sales growth of 11 percent during the third quarter of 2011 over the same period in 2010, with quarterly revenue exceeding $1 billion for the first time in company history, according to a Synthes news release.
The company attributes its success to double-digit growth in international markets, such as Asia Pacific and Latin America. A further driving factor in the growing sales was new product launches in the European markets.
Consolidated net sales in the North American market were $567.3 million, approximately 5 percent higher than the third quarter last year. European net sales were reported as $230.6 million, a 17.3 percent growth. The Asian Pacific market experienced nearly 30 percent growth to $74.8 million.
The company reported satisfactory spine sales despite declining procedure volumes and reimbursement pressures from the United States. The company is currently in the middle of finalizing an acquisition by Johnson & Johnson.
Related Articles on Orthopedic Devices:
More Insurance Companies Now Reimburse for TranS1's AxiaLIF
Zimmer Signs Distribution Agreement for Benvenue Medical's Vertebral Compression Fracture Treatment System
Stryker's Net Earnings Decline, Acquisitions Save Sales Growth
Consolidated net sales in the North American market were $567.3 million, approximately 5 percent higher than the third quarter last year. European net sales were reported as $230.6 million, a 17.3 percent growth. The Asian Pacific market experienced nearly 30 percent growth to $74.8 million.
The company reported satisfactory spine sales despite declining procedure volumes and reimbursement pressures from the United States. The company is currently in the middle of finalizing an acquisition by Johnson & Johnson.
Related Articles on Orthopedic Devices:
More Insurance Companies Now Reimburse for TranS1's AxiaLIF
Zimmer Signs Distribution Agreement for Benvenue Medical's Vertebral Compression Fracture Treatment System
Stryker's Net Earnings Decline, Acquisitions Save Sales Growth