Anika Therapeutics, Inc. Revises Revenue Guidance for the Fiscal Year 2021
November 04, 2021 at 04:12 pm EDT
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Anika Therapeutics, Inc. revised revenue guidance for the fiscal year 2021. The company expected its overall revenue for fiscal year 2021 to grow 9%-11% year-over year, compared with previous guidance of 11%-14%, primarily due to the increased impact of COVID. This annual revenue growth is driven by Joint Preservation and Restoration growth in the upper-teens percent range with mid-single digit growth in Joint Pain Management. Other revenue is expected to grow mid-single digits for the year.
Anika Therapeutics, Inc. is a joint preservation company focused on developing, manufacturing, and commercializing products based on hyaluronic acid (HA) technology platform. The OA Pain Management product family consists of Monovisc and Orthovisc that provides pain relief from osteoarthritis conditions and Cingal consisting of its cross-linked HA material combined with a fast-acting steroid. Its Joint Preservation and Restoration product family consists of its portfolio of orthopedic regenerative solutions products: Integrity, Tactoset, and Hyalofast; its line of sports medicine solutions repairs and reconstructs damaged ligaments and tendons, and its Arthrosurface portfolio of bone preserving joint technologies, including partial joint replacement, joint resurfacing, and minimally invasive and bone sparing implants. Its Non-Orthopedic product family provides orthopedic applications, including adhesion barrier product, advanced wound care products, and ear, nose and throat products.
ANIKA THERAPEUTICS, INC. 
