10 July 2020
Highlights:
-Record US Sales in June
-First Sales in UK
-FY20 Sales Guidance
US
June 2020 was a new record sales month in the US. Since the record sales month announced on 7 April PolyNovo has opened 7 new hospital accounts. From July 2019 to 30 June 2020 there has been a 67% increase in hospital account in the US.
Despite the adverse impact of COVID on many businesses, Polynovo has had success opening new accounts and achieving record sales. To achieve this, the company is using a number of tools to support surgeons where face to face meetings are not possible.
UK
The company is pleased to announce its first sale in the UK. There have been six operations in England and Scotland and for this reason we expect additional new term sales.
EU
There have been numerous applications of the BTM in the DACH countries (Germany, Austria and Switzerland) and sales are growing accordingly as we gain traction across the region.
TRADING UPDATE
The company repeats earlier guidance that product sales for FY20 are likely to at least double FY19.
Sales for the June quarter were 33% greater than the March quarter, but this includes a record US result for June.
Managing Director, Paul Brennan said, “These sales results for NovoSorb BTM are very strong given the difficulties faced with CoVid19. Our teams have maintained their engagement with customers, and we continue to see sales growth.”
Chairman, David Williams said, “Sales are still lumpy but there is a strong upward trajectory as surgeons embrace our product and the patient results it gives. While FY20 sales will show impressive growth over FY19, the sales run-rate is more impressive and should be a better indicator of the near-term future.”
