Bonesupport Holding AB announces that their current distribution agreement has been terminated and will be replaced by a network of independent distributors and its own commercial organization.
This will allow the company to increase its market penetration while creating a stronger platform for current products and future launches in the US market, reports the press release.
“Taking control of our commercial platform in the US is crucial to the execution of our strategy to become a leading global orthobiologics company. We will be able to create a more direct relation with the US customers while better capitalizing the potential of our highly differentiated products, particularly CERAMENT G, which we hope will take to the market in 2021”, says Emil Billbäck, CEO of BONESUPPORT.
The company intends to create the optimal US commercial platform by building its own network of independent distributors driving the sales of the BONESUPPORT’s products, to a broad range of orthopedic indications, extend the product offering based on new formulations of CERAMENT as well as synergistic bone graft substitute products and increase the own commercial organization from 12 to 23 persons.
Bonesupport will start selling direct on October 20th 2018.
“CERAMENT G will be a highly innovative product – the first of its kind in the US market – the recruitment of the FORTIFY IDE study, which will provide data for the PMA application of CERAMENT G in 2020, is running according to plan. Expanding our commercial footprint, establishing direct access with our customers, and bolstering our product offering in the US will allow us to build a strong and increasing foundation in the world’s largest market for bone graft substitutes.”, comments Patrick O’Donnell, Executive Vice President of Commercial Operations, North America.
The company expects that this decided change in market commercialization eventually will generate higher sales volumes in the US. In the short term, the turnover will be less in the US. This could also lead to that the 2020 targets will be achieved later than previously communicated. Updated objectives will be presented during Q3 2018 after the initiated strategic review is completed.
Photo of Emil Billbäck, CEO of Bonesupport