Smith+Nephew expects fourth-quarter revenues to drop year over year due to the pandemic.
On Jan. 11, the company announced a 7 percent decrease in sales for the fourth quarter amid elective surgery restrictions in the U.S. and Europe primarily. Full-year revenue is expected to drop 12 percent year over year when the company provides the full-year results on Feb. 18.
The trading profit margin will also be substantially down in 2020 compared to 2019. The company launched new products, including the Cori Surgical System for partial knee replacement and Aria digital platform. Smith+Nephew also acquired Integra LifeSciences' extremities orthopedics business for $240 million on Jan. 4.
Smith+Nephew's advanced wound management and trauma businesses "remained resilient," according to the statement.
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