Business Overview 2006 - Synthes

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Business Reports. Europe In Europe Synthes can look back on one of its most successful years, despite an increasingly difficult market environment and pressure on prices. The high growth rate and increased market shares prove that our long-term investments are paying off. AO/ASIF Quick Coupling 10
Synthes. Annual Report 2006 Business Report. Europe 2006 was one of the best years for the European business. Sales in local currency grew by 15.5% and for the first time broke the US$ 500 million mark. The reasons for this positive development are numerous but can be ascribed mainly to the merger with Mathys. We benefited from a uniform market in which we could fully leverage our product portfolio as well as our training, manufacturing and logistics activities. The investments in the sales force are producing positive results and our consultants are performing at higher productivity levels. Products with true clinical benefits boost growth But despite these positive results, the market environment in Europe is difficult. The price increases which the market is willing to accept hardly compensate for inflation rates. And new product introductions only lead to higher selling prices if we are able to convince customers that our innovations offer a substantial clinical benefit compared to all other existing products for that specific indication. Due to the successful launch of products that meet surgeons’ and patients’ needs, Synthes significantly outperformed the market and gained market shares across the board in 2006. In addition, we experienced strong growth in Middle and Eastern European countries such as Russia, Poland and the Czech Republic, where more government funds are allocated to healthcare and individual purchasing power is increasing. LCP and Expert Nailing System yield outstanding results Once again the Locking Compression Plate (LCP) portfolio was a major growth driver for the European Trauma business. Not only did the system achieve a higher penetration but we also extended existing systems and added several new product lines such as a variety of proximal and distal LCP Tibia Plates, the LCP Olecranon Plate for the elbow, and the LCP Proximal Femoral Plate, just to mention a few. Synthes’ global trauma market share is roughly 46%. In the subsegment of plates and screws our market share has always been much higher than that, and in 2006 it rose yet higher. Unprecedented number of high-impact spine products In 2006 Synthes introduced more high-impact spine products than in any previous year. Vectra, Vectra-T (two dynamic cervical plates) and Pangea (lumbar pedicle screw system) are only the most prominent launches in Europe. With the artificial discs Prodisc-L for the lumbar spine and Prodisc-C for the cervical spine, Synthes has established itself as European market leader in disc arthroplasty. Further enhancements to the instrumentation of both discs solidified their position as the most user-friendly disc devices in this market. Not only has Prodisc been a success in Europe, but it has also served as a door-opener to new customers who subsequently switched to Synthes’ traditional spine portfolio. CMF – market leading position within reach In Cranio-maxillofacial, Synthes is on the verge of becoming the market leader in Europe. We have further expanded our market share and have established ourselves in markets in which we previously lacked a dedicated sales force. Mandible and midface fixation devices are among the most demanded products. In addition, the Patient Specific Implant System (PSI), contributed to the growth rate in the high teens. Increased training for OR-personnel In 2006 Synthes continued to develop its specialized sales forces in Europe with the goal of supporting OR-personnel both inside and outside the operating theatre. This support includes on-site training in the use and maintenance of our products, inventory management, and generally how to interact with surgeons and nurses in order to maintain the high level of excellent outcomes achieved using Synthes products. Intramedullary nailing, on the other hand, offers room for further share gains, despite the fact that Synthes is also the market leader in this area. The introduction of the first nails of the new Expert Nailing System resulted in a strong growth momentum, and the subsequent launches across Europe of the remaining nails – namely the Expert Humerus Nail, the Expert Retrograde/Antegrade Femoral Nail and the Expert Lateral Femoral Nail – will enhance this development. Additional new products will support our position in the subsegment of intramedullary nailing: the Reamer-Irrigator-Aspirator (RIA), the ModAD aiming device and the antibiotic coatings for the tibia nail are all in the process of being launched. 11
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