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BioMimetic Therapeutics Inc. Message Board

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  • asian1011 asian1011 May 13, 2011 7:59 PM Flag

    About the 2009 Canadian approval

    They got approval in Canada how come there is no revenue?

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    • In Canada, Augment Bone Graft won regulatory approval in November of 2009. BioMimetic shipped its first order of Augment Bone Graft to its Canadian distributor, Joint Solutions Alliance Corporation, a sales and distribution company for orthopedic products headquartered in Burlington, Ontario, Canada. Accordingly, $78 thousand in revenue from product sales of Augment was recorded in December 2009. Product sales were a mere $14.7 thousand for the whole of 2010 while it significantly improved to $76 thousand in the first quarter of 2011 alone. Given the limited market for Augment in Canada, the company's product sales revenues have also been limited to date.

      To bolster the commercial adoption of Augment in Canada, the company has made a transition from a single exclusive distributor to a network of independent sales agents.