TMCnet - World's Largest Communications and Technology Community



Derma Sciences CEO Discusses Continued Growth of MEDIHONEY® at Comvita Annual Meeting of Shareholders
[July 25, 2014]

Derma Sciences CEO Discusses Continued Growth of MEDIHONEY® at Comvita Annual Meeting of Shareholders

PRINCETON, N.J. --(Business Wire)--

Derma Sciences, Inc. (Nasdaq:DSCI), a tissue regeneration company focused on advanced wound care, announces that Edward J. Quilty, its chief executive officer, delivered a presentation highlighting MEDIHONEY® and its robust growth at the Comvita Ltd. annual meetings of shareholders in New Zealand on Thursday, July 24. During his remarks Mr. Quilty stated that the Company's sales of MEDIHONEY dressings are expected to approach $20 million in 2014, which would represent an increase of approximately 23% compared with 2013 sales.

Comvita supplies medical grade Manuka honey to Derma Sciences for use in the MEDIHONEY product line. In September 2013 Derma Sciences made a $7.0 million equity investment in Comvita, representing a 7.2% ownership stake, in order to solidify its honey source, and support manufacturing upgrades and the purchase of additional apiaries. Mr. Quilty was appointed to the Board of Directors of Comvita in conjunction with the investment.

"We are thrilled with our investment in Comvita, as it has allowed us to continue to expand the market for MEDIHONEY both in the U.S. and around the world, assuring the excellent quality, supply and pricing for this high-demand product," said Mr. Quilty. "As an anchor product in our advanced wound care product portfolio, with multiple studies showing its utility in treating chronic wounds and burns, the MEDIHONEY product line has given our expanded sales force an important entrée into U.S. wound care clinics. The acceptance of our MEDIHONEY line has been truly gratifying, with so many key opinion leaders standing behind its efficacy. I applaud the efforts of our sales and marketing team to educate the medical community on its benefits. Now with the recent launch of our AMNIO placental tissue regeneration products, and the approval by the U.S. Veterans Administration for the addition of AMNIOEXCEL® to the Federal Supply Schedule, we are well positioned to expand our advanced wound care portfolio to include tissue regeneration."

Brett Hewlett, chief executive officer of Comvita, said, "Derma Sciences has been a wonderful partner and we continue to be very pleased with the sustained growth of MEDIHONEY they have delivered over the past few years. With a three-year compound annual growth rate of 36% through June 2014 and expansion to ew indications such as burns, radiation oncology and acute care, we are confident that Derma Sciences will continue to be the excellent partner it has proven itself to be thus far."

About Comvita Ltd.

Comvita (NZX:CVT) is a global natural health company committed to the development of innovative products, backed by ongoing investment in scientific research. It is the world leader in Manuka (leptospermum) honey and fresh-picked Olive Leaf Extract, which are at the core of the Comvita product range.

It has approximately 50% of honey supply under direct ownership or control, with the balance of supply from long term contractual and partnership arrangements. Comvita pioneered the development and use of medical grade Manuka honey and was the first to receive U.S. FDA approval (2007).

It partners with U.S. wound care company Derma Sciences Inc., the global licensee for MEDIHONEY® specialist wound care products, which are used in hospitals and medical centres around the world. Comvita's Olive Leaf Extract is grown, harvested, extracted and bottled at the world's largest specialised olive leaf grove, with over one million olive trees. Comvita sells into more than 18 countries through a network of its own branded retail locations, online (nine country specific e-commerce websites) and third-party outlets. It has over 450 staff located in New Zealand, Australia, Hong Kong, Japan, Taiwan, South Korea, the United Kingdom and the USA.

About Derma Sciences, Inc.

Derma Sciences is a tissue regeneration company focused on advanced wound and burn care. It offers a line of products with patented technologies to help better manage chronic and hard-to-heal wounds, many of which result from diabetes and poor vascular functioning. The company recently entered the $500 million market for skin substitute products with its licensing of AMNIOEXCEL® and AMNIOMATRIX® in the first quarter of 2014. AMNIOEXCEL® was launched to customers in March 2014 and AMNIOMATRIX ® was launched in the second quarter. Its MEDIHONEY® product is the leading brand of honey-based dressings for the management of wounds and burns. The product has been shown in clinical studies to be effective in a variety of indications. TCC-EZ® is its gold-standard total contact casting system for diabetic foot ulcers. Other novel products introduced into the $14 billion global wound care market include XTRASORB® for better management of wound exudate, and BIOGUARD® for barrier protection against microbes and other contaminants. Its pharmaceutical wound care products include DSC127, which is currently in Phase 3 clinical trials for the healing of diabetic foot ulcers. The drug candidate is also part of a BARDA grant program for the healing/prevention of tissue damage due to ionizing radiation exposure. The patented API peptide used in DSC127 is also in preclinical testing for scar prevention/reduction. The company also offers a full product line of traditional dressings.

For more information please visit

Forward-Looking Statements

Statements contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the generality of the foregoing, words such as "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimate" or "continue" are intended to identify forward-looking statements. Readers are cautioned that certain important factors may affect the company's actual results and could cause such results to differ materially from any forward-looking statements that may be made in this news release or that are otherwise made by or on behalf of the company. Factors that may affect the company's results include, but are not limited to, product demand, market acceptance, impact of competitive products and prices, product development, completion of an acquisition, commercialization or technological difficulties, the success or failure of negotiations and trade, legal, social and economic risks. Additional factors that could cause or contribute to differences between the company's actual results and forward-looking statements include but are not limited to, those discussed in the company's filings with the U.S. Securities and Exchange Commission.

[ Back To's Homepage ]

Technology Marketing Corporation

35 Nutmeg Drive Suite 340, Trumbull, Connecticut 06611 USA
Ph: 800-243-6002, 203-852-6800
Fx: 203-866-3326

General comments:
Comments about this site:


© 2018 Technology Marketing Corporation. All rights reserved | Privacy Policy