This represents the first honey-based product to be cleared for medical use in North America. Active Manuka honey-based products have been available throughout Europe, Australia, and New Zealand for the past two years.
Ed Quilty, president and CEO said, “This clearance represents a major milestone for Derma Sciences as we move forward to implement our plan of using the strong cash flow from our base business to fund the development and promotion of novel advanced wound care products.”
Derma Sciences has wound care contracts in about 50% of Canadian hospitals, and plans to add its honey-based products to many of its existing contracts, and compete within the rapidly growing topical antimicrobial market. Initially, it will target the market for silver-based dressings, which is the current standard for advanced wound care.
The US market for silver-based dressings is approximately $100 million and normally the Canadian wound care market is about 10% of the US market. “With our strong presence in Canada, we expect to make significant inroads into the advanced wound care market there,” commented Quilty.