Integra LifeSciences Holding Corporation IART recently announced that its DuraGen Dural Regeneration Matrix got a regulatory approval from Japan. This is a major development for the company, currently focusing on strategic global expansion.
DuraGen Dural Regeneration Matrix is a non-autologous collagen xenograft, one of the safest and effective onlay grafts for the restoration and repair of dura mater.
Integra LifeSciencesstrongly expects a huge market adoption of this device in Japan as this is the first and the only non-autologous collagen xenograft approved for use as a dural substitute in East Asian island country. The company also anticipates DuraGen to be commercially available across Japan in the third quarter of 2019.
It encouragingly noted that Duragen holds a brand reputation of more than 20 years. The company has so far efficiently prevented CSF leaks, infections and foreign body reactions. Plus, it benefited more than two million patients.
Integra Gains International Traction
In spite of facing unfavourable foreign exchange fluctuations across its international business, Integra LifeSciences successfully saw through certain key developments on the overseas front. International sales within Codman Specialty Surgical have been strong of late, driven by growth in core neurosurgery business and a solid uptick in certain key markets, such as Japan and Canada, which is slightly offset by lower sales in Europe. Per Integra LifeSciences, the acquisition of Codman is effectively doubling up the company’s international business within this segment.
The company is looking forward to investment opportunities in the Asian market for faster business growth than what it is in the United States and also aims to drive certain parts of its international businesses. In line with this strategy, the company is working on several product launches in China and Japan. Turning to Europe, management feels encouraged by the growth potential of this region with Tissue Technologies business and CUSA Clarity product scheduled to be unveiled across the continent.
Share Price Performance
Integra LifeSciences has outperformed its industry over the past three months. The stock has gained 19.2% compared with the industry’s 12.8% rise.
Zacks Rank & Key Picks
Integra LifeSciences currently carries a Zacks Rank #3 (Hold). A few better-ranked stocks in the broader medical space are ABIOMED, Inc., ABMD, Penumbra, Inc., PEN and Masimo, Inc. MASI, each currently carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
ABIOMED’s long-term earnings growth rate is expected at 27.67%.
Penumbra’s long-term earnings growth rate is projected at 20.93%.
Masimo’s long-term earnings are estimated to grow 15.60%.
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