Growth From Outside Eu and US for Biomet

Biomet Inc’s second quarter (to end Nov)preliminary net sales reports have been published and show a continuation of the tendency for highest growth levels to be coming from ex-USA and ex-Eu sources.  This effectively means Pacific Rim (together with Canada, Mexico and South America), where net sales grew by 8% on a constant currency basis compared with 2% in US and 1% in Europe. Overall global sales grew 3% year on year to $725M.

Comparing product groups, highest growth rates were seen in  Sports, Extremities and Trauma (SET) with year on year quarterly growth of 12% worldwide to $85.4M. Underlying this headline figure, Sports Medicine grew by 19%, extremities by 14% and trauma actually decreased by 1%.

The company’s biggest hitting business remains large joints with sales of $442.3M worldwide, knee sales growing by 1% worldwide  despite a decrease of 1% in US. Hip sales in contrast grew by 6% worldwide and 7% in US.

Company comments

Biomet’s President and Chief Executive Officer Jeffrey R. Binder stated; “We’re pleased with our overall sales performance during our fiscal second quarter and we’re particularly happy to see acceleration in our year‐over‐year quarterly growth rates compared to the last couple of quarters in our major product categories, including knees and hips.”

Full report here.

Source: Biomet