Bonesupport (ST:BONEX)’s independent distributor network is now promoting CERAMENT bone void filler (BVF) in the US since Zimmer Biomet’s exclusivity period ended on 21 October. According to the latest update, 25 distributors in total had signed up ahead of the previously communicated deadline (end-2018). Other recent news includes Bonesupport’s capital markets days in Stockholm and London, where management presented on CERAMENT products, market opportunities, clinical and economic studies, and new details on the commercial platform. Our valuation is higher at SEK1.49bn or SEK29.0/share (vs SEK22.8/share), upgraded mainly to reflect the substantial expansion of their commercial presence in Europe.
Executing on commercial platform improvements
During the Q318 results presentation Bonesupport’s management reviewed progress on the execution of its strategy, revised earlier this year. The main recent developments include the establishment of the independent distributor network in the US and revision of the commercial organisation in Europe. In the US, 25 distributors with a total of 500+ sales representatives have now been secured (ahead of the end-2018 deadline); they started the promotion of CERAMENT BVF after Zimmer Biomet’s exclusivity period ended on 21 October 2018. In Europe, one key strategic change has been the increase in salesforce in strategic locations that have been relatively underrepresented historically.
To read the entire report Please click on the pdf File Below..