Integra Lifesciences: Vegas takes

研报英文原文证据摘录

Integra Lifesciences: Vegas takes

Braintree coming online in June

Braintree expected to operationalize in June. Braintree is expected to avoid the physical

limitations experienced in the Boston facility. IART also invested in a new quality

manufacturing system to replace some manual processes seen in the Boston facility.

The entire process was subjected to a rigorous validation protocol and IART invested in

new leadership at Braintree to ensure ability to sustain complex manufacturing

requirements of PMA products. IART expects to build inventory in Q3 to support relaunch

of SurgiMend in Q4.

SurgiMend launch on track for Q4

Surgical matrices and breast reconstruction is a $800m market with DD growth. The

market has moved away from human ADM as matrices to xenografts and resorbable

synthetics, which likely favor SurgiMend and DuraSorb. Procedural changes also resulted

in larger sizes required (favors IART’s portfolio). IART still expects to be the first

company to receive a PMA label for implant-based breast reconstruction (PMA label

expansion for SurgiMend and DuraSorb expected in 2027). IART expects DuraSorb to

help with SurgiMend uptake following Q4 launch.

Primatrix launch consistent with expectations

IART expanded the launch in Q1. IART said it has seen some prior users return. Some

users indicated they would like to see more demonstration on sustainable supply. IART

says it has been able to show differentiation and has found ways to gain access. IART

also previously noted it expects to leverage learnings from the Primatrix relaunch

experience to support SurgiMend’s return to market. IART does not believe it needs to

meaningfully change price in order to return products to market and regain share.

Wound care opportunities from reimbursement changes