Swiss devicemaker Synthes is eyeing 2011 sales growth in the mid-to-high single digit percentage range after posting a 10.2 percent rise in full-year net earnings, Reuters is reporting today.
However, Synthes' outlook for this year was cautious despite having forecast-beating 2010 results. And as with other companies, health reforms in Europe and the U.S. will weigh on prices and demand, Reuters notes. For example, the company pointed to pricing and reimbursement challenges as having an impact on the U.S. spine business; however, Synthes generated single-digit growth in the division in other countries, according to the company.
But in North America, Synthes' growth gained momentum compared with the previous two quarters, according to the company. Trauma, CMF and Power Tools' combined growth of 10 percent resulted from focused sales initiatives and targeted competitive conversions.
"We outperformed the overall market in 2010 in a challenging environment, thanks to the entire organization's efforts," explains company President and CEO Michel Orsinger. "We continued to generate strong financial results and gained market share in Trauma, CMF and Power Tools. We are committed to improving the performance in our Spine business through new product launches and targeted sales efforts in 2011."
Rivals Zimmer and Smith & Nephew recently posted encouraging figures, and an upturn in economic activity could further boost demand for Synthes products, Reuters reports.
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