(AOF) – Smaio publishes turnover for the first half of 2023 at 4 million euros, excluding intra-group operations, up 203% thanks to the milestone payment of 3 million dollars (some 2.8 million euros) from NuVasive. The specialist in complex spinal surgery recorded a net profit of 1.6 million euros compared to 5.4 million a year ago. It underlines that its cash position reached 7.3 million euros as of June 30, 2023, excluding 1.5 million euros of non-dilutive financing obtained from historic banks.
“During the first half of 2023, we effectively deployed our strategic plan in the United States, relying on our collaboration with NuVasive and the training of local prescribing surgeons to enable the dissemination of our i-kontrol offer,” declares CEO Philippe Roussouly.
“We are approaching the coming semesters with confidence by continuing the successful execution of our strategic plan which will focus primarily on the ramp-up of our sales and the development of our profitability.”
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Biotechs put to the test
These companies are suffering from a much less favorable economic cycle, which is reflected in particular by a drop in venture capital financing of start-ups. These companies are therefore obliged to carry out layoff plans. Added to this is a much more restrictive regulatory framework. First, in the United States, measures linked to the Inflation Reduction Act (IRA) could have a strong impact on the margins of stakeholders. Indeed, from 2026, the federal Medicare program will be able to renegotiate the price of drugs marketed for nine years (chemical) or 13 years (biological), with discounts that could range from 35 to 60% for biotechs. Likewise, in Europe, with the new drug regulations presented in Brussels in April, the duration of patent protection will be reduced if the innovative treatment is not marketed in all member countries within two years.