Derma Sciences is a tissue regeneration company focused on
advanced wound and burn care. The company’s innovative product line utilizes a
collection of patented technologies in order to better manage chronic and
hard-to-heal wounds, including those resulting from diabetes and poor vascular
function. Derma currently markets an assortment of evidence-based products
designed to assist with tissue regeneration – including MEDIHONEY®, XTRASORB®,
BIOGUARD®, ALGICELL® Ag, TCC-EZ®, AMNIOEXCEL® and AMNIOMATRIX®.
The domestic market for skin replacements and substitutes,
as required for active wound repair, is expansive. In 2011, U.S. sales of
tissue-engineered skin replacements, such as those produced by Derma, surpassed
$404 million, according to a report by MedTech Insight. By 2016, combined sales
are expected to reach nearly $550 million, demonstrating the considerable
market potential of the company’s advanced product line.
In recent months, Derma has placed emphasis on promoting the
market growth of its AMNIOEXCEL and AMNIOMATRIX products, which utilize
components of the amniotic membrane and amniotic fluid recovered from living
donors following a full-term pregnancy to promote tissue repair and
regeneration. In the first quarter of 2015, these efforts resulted in a 17
percent increase in net sales for its advanced wound care (AWC) product line.
Although total net sales dropped by 1.5 percent for the period, early market
acceptance of Derma’s newest products could foreshadow an opportunity for
strong financial growth in the months to come.
“Our commercial business is off to a strong start this
year,” Edward J. Quilty, chairman and chief executive officer of Derma, stated
in a news release. “We continue to believe in our strategy of investment in
sales and marketing of our key AWC brands, leveraging our sales force
investment through organic growth as well as introducing new products… This
will provide the best return for our shareholders.”
In June, the company’s future growth prospects were greatly
improved when Medicare coverage for its medical-grade honey product line,
MEDIHONEY, was reinstated. This decision, which followed a January policy
adjustment that temporarily classified the product as non-covered, immediately
reopened access to MEDIHONEY products for Medicare Part B patients with
eligible wounds.
“MEDIHONEY dressings are exceptional, versatile and
cost-effective advanced wound care dressings that have helped hundreds of
thousands of patients suffering from non-healing wounds,” continued Quilty. “We
extend thanks to all our stakeholder groups for their work in support of
reinstating coverage.”
Leveraging a proven product portfolio, as well as a
promising development pipeline, Derma is in a strong strategic position to
continue expanding upon its recent financial growth in the future.
For more information, visit www.dermasciences.com
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