Wright Medical Gets FDA PMA For AUGMENT Injectable, Shares Up
Zacks Investment Research | Jun 15, 2018 08:30AM ET
Wright Medical Group N.V. (NASDAQ:WMGI) recently announced the premarket approval (PMA) from the FDA for its AUGMENT Injectable Bone Graft platform. The company will initiate the marketing of the product shortly in the United States and complete the rollout process within the next four to six weeks.
AUGMENT Injectable is the first clinically proven injectable protein therapeutic in the U.S. orthopaedic market. It already has a strong foothold in the Canadian and Australian markets. With the latest development, Wright Medical will expand its AUGMENT franchise in the United States.
Following the news, the company announced plans to update 2018 annual guidance on its second-quarter earnings call scheduled in August. Per management, the latest development will deliver sustained growth for the U.S. AUGMENT Regenerative Solutions platform over the next several years.
Shares Up
Shares of Wright Medical inched up 1.2% to close at $26.10 following the announcement. In fact, the stock has returned almost 7.9% compared with the Original post
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