King looks to relinquish thrombin throne. Q1 results edited

Net sales of THROMBIN-JMI were $47 million in the first quarter of this year compared to $67 million last year. The decline in that sale was primarily due to a higher level of discounting and the decrease in the number of units sold.

Joseph Squicciarino

David, could you repeat your question on THROMBIN-JMI?

David Buck - Buckingham Research Group

If you looked at the IMS reported sales, they had been fairly close to what you reported in sales until this quarter, and your reported sales were considerably lower than the $52 million from IMS for the first quarter; so I was just wondering if there is any de-stocking there that you might have seen?

Joseph Squicciarino

Actually no, it was up slightly, but not much at all. It was essentially flat with year-end levels; however, the downturn was a combination of two things; price and then of course to state the obvious, a lower level of units, 5000 equivalent units that were sold, and that was split about 50-50 between the two.

Brian A. Markison

I think when you take a look at THROMBIN, we have been very consistent from day one saying that this will be an account-by-account lifecycle, those have been my exact words, and we believe we have a cost of goods advantage and we will compete very hard; so, while we’re looking at more recent data or the most recent data, it does look like share has leveled off a bit, but we’re not the sole determinant of that as you know, and if the competition wants to take it to another level on price, we’ll meet them there, that’s not a problem for us, but for now, it does look like things have leveled off a bit;............