Stryker's net sales drop to $14.4B in 2020 amid pandemic: 6 details

Laura Dyrda -   Print  |

Stryker's 2020 net sales dropped 3.6 percent, largely due to the COVID-19 pandemic.

Six details:

1. Net sales last year dropped to $14.4 billion, but the company is showing signs of recovery. Fourth-quarter net sales were up 3.2 percent year over year to $4.3 billion.

2. Orthopedic net sales dropped 5.6 percent in 2020 to hit $4.9 billion. Spine sales dropped 9.5 percent to just over $1 billion.

3. Full-year knee sales were down 13.7 percent to $1.6 billion in 2020. Hip sales dropped 12.8 percent to $1.2 billion.

4. Trauma and extremities sales grew 5.1 percent in 2020 to $1.7 billion.

5. The company expects 2021 organic net sales growth of 8 percent to 10 percent over 2019 numbers, assuming recovery from the pandemic allows for more normal elective procedure levels in the second quarter.

6. Stryker Chair and CEO Kevin Lobo said its integration of Wright Medical is "off to a good start." The company completed its acquisition of Wright Medical in November 2020.

More articles on orthopedics:
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Life Spine secures private equity investment — 3 things to know
Orthopedic implant market to hit $8.97B by 2025

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