Published in Healthcare Finance, Tax and Law Weekly, November 22nd, 2006
Anika reported product revenue of $5,494,000 for the third quarter of 2006 compared with $5,999,000 in the same period last year. Product revenue for the first 9 months of 2006 was $18,876,000 compared with $15,760,000 in the 9 month period a year ago. Product revenue for both years was impacted by several factors: Reduced sales to Turkey in the third quarter of 2006 due to a change in the government's reimbursement policy for over 100 drugs including Orthovisc and its competing products, which was more than offset by increased revenue in the U.S....
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