Piribo, Online Business Intelligence for the Biopharmaceutical Industry, predicts Advanced Wound Care Market will increase from $4.6 Billion in 2007 to $12.5 Billion in 2012
PRINCETON, N.J. -- (BUSINESS WIRE) --
Derma Sciences, Inc. (NASDAQ: DSCI), a specialty medical device/pharmaceutical company is poised to take advantage of the tremendous growth opportunity in wound care based on their distinct competitive advantage resulting from their worldwide, perpetual, exclusive license for the distribution of MEDIHONEY®. MEDIHONEY® is made from Leptospermum (manuka) honey, indigenous to New Zealand and Australia which has been shown to be very effective in a variety of advanced wound care indications.
Comvita New Zealand, from whom Derma has secured this license, controls approximately 75% of worldwide production and owns key intellectual property and patents concerning its use in medical dressings. This license gives Derma control over three-quarters of the global market for manuka-based dressings.
Derma's management knows how to position the company for this growth opportunity. The CEO has over 30 years' experience in healthcare. The CFO has years of experience in the space and held a senior financial position at Bristol-Myers Squibb, and the company's sales and marketing professionals all have prior experience. This team moved Derma onto the NASDAQ earlier this year.
Derma's fourth quarter showed: net sales increasing 9% to $13,648,500 over fourth quarter 2008; Advanced Wound Care sales increasing 69% to $2,278,860; and net income of $35,706, or $0.01 per share. Additionally, the company has had a 159% compounded annual growth rate in advanced wound care sales from '07 to '09.
CEO Ed Quilty has said, "We see sales accelerating in 2010, driven by the expansion of our MEDIHONEY® business. Since January, we have added 4 sales reps in the US, for a total of 14 -- we'll have 20 by July. We will also launch several new Advanced Wound Care products, including our novel super-absorbent polymer-based XTRASORBTM Foam dressing. This should compete well in the foam-dressing category, the largest sub-category within moist wound dressings." For more information, log on to www.dermasciences.com.
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Jason Strominger (Investor Relations)
Janet Vasquez (Media Relations)