Corin hips flying off shelves

Corin, the manufacturer of replacement hip and knee joints, says it has seen growth in all its markets except Australia and describes the start of the year as 'strong'.

Looking at the numbers you can see where its coming from: for the four months ended April 30th, constant currency sales growth was 10% excluding stocking orders.

The growth has been led by sales of new hip products. Knee sales, which have in recent years declined, were broadly flat while ligament reconstruction products have shown good growth in the UK, but have in aggregate declined on the back of weaker Australian sales.

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There has been double-digit sales growth in the UK, US, Japanese and German and Austrian markets, with only the Australian business declining compared to the prior year.

Initial implantations of the new "Unity Knee" have gone well and the product remains on track for commercial launch early in 2013.

Corin shares had risen 5.5% by 10:45.

BS