Late news: Corin's Cormet FDA approved, launch in third quarter:
This article was originally published in Clinica
Executive Summary
As Clinica went to press, UK company Corin announced that it had received FDA approval for Cormet, its metal-on-metal (MOM) hip resurfacing device, thus ending Smith & Nephew's US monopoly. The move could see Stryker - Corin's distribution partner for the product - start marketing the device during the third quarter of this year, when it will become a direct competitor of S&N's Birmingham Hip. Code Securities has predicted Cormet sales of $20m in 2007, rising to $36m in 2008, Goldman Sachs has estimated that Stryker and S&N will each control 35-40% of the $400m US hip resurfacing market by 2010. Hip resurfacing is an alternative procedure to hip replacement that allows patients to return to more active lifestyles.
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