--- title: 'Morning Brief — Monday, November 9, 2026' type: 'episode' url: 'https://doc.social/episodes/morning-brief-2026-11-09' show: 'doc social Morning Brief' show_url: 'https://doc.social/podcasts/morning-brief' published: '2026-11-09' audio: 'https://media.doc.social/podcasts/morning-brief/2026-11-09.mp3' --- # Morning Brief — Monday, November 9, 2026 Smith+Nephew Q3 2026: revenue $1.551B (+3.4% underlying); US Knee Implants -7.3%, US Hip Implants -1.0%; FY26 underlying growth cut to ~3% from ~4%, trading profit to ~$1.25B from ~$1.3B, free cash flow to ~$750M from ~$800M; conversations with Johnson & Johnson over orthopaedics have ended and the board continues to explore options for Orthopaedics · FDA tells Anika the Hyalofast PMA is not… ## Summary 5 stories this morning, for surgeons and the people who support them. - **Smith+Nephew Q3 2026: revenue $1.551B (+3.4% underlying); US Knee Implants -7.3%, US Hip Implants -1.0%; FY26 underlying growth cut to ~3% from ~4%, trading profit to ~$1.25B from ~$1.3B, free cash flow to ~$750M from ~$800M; conversations with Johnson & Johnson over orthopaedics have ended and the board continues to explore options for Orthopaedics** — Smith+Nephew's Nov 4 third-quarter trading update cut 2026 guidance on weaker US hips and knees and confirmed that discussions with Johnson & Johnson have ended, with its review of Orthopaedics continuing. Independently reported by ORTHOWORLD (https://www.orthoworld.com/smithnephews-sports-medicine-strength-offsets-u-s-joint-replacement-pressure/), which also supplied the cementless share and LANDMARK timing, and by AJ Bell/Alliance News (https://www.ajbell.co.uk/news/articles/smith-nephew-cuts-2026-outlook-talks-johnson-johnson-end). Zimmer Biomet US knees comparator: Q3 release (https://www.sec.gov/Archives/edgar/data/0001136869/000119312526446145/zbh-ex99_1.htm). [Source](https://www.sec.gov/Archives/edgar/data/0000845982/000110465926122324/snn-20261104x6k.htm) - **FDA tells Anika the Hyalofast PMA is not approvable, primarily on the clinical data (FastTRACK missed its co-primary endpoints against microfracture); Vericel Q3 2026 MACI revenue $67.4M (+21%), FY26 MACI guidance raised to $290-292M from $284-290M** — Anika's Nov 6 third-quarter release discloses an October FDA notice that the Hyalofast PMA is not approvable, primarily based on the clinical data, and cuts Commercial Channel growth guidance to 9-13% from 12-18%. Vericel's Nov 5 release (https://www.sec.gov/Archives/edgar/data/0000887359/000162828026070622/ex991earningsreleaseq32026.htm) reports MACI growth of 21% and raised guidance; ORTHOWORLD (https://www.orthoworld.com/vericels-maci-arthro-adoption-supports-sixth-straight-quarter-of-20-growth/) reports the arthroscopic share. FastTRACK topline: https://seekingalpha.com/pr/20182413-anika-reports-topline-results-from-u-s-pivotal-fasttrack-phase-iii-study-for-hyalofast. Agili-C code: ORTHOWORLD Smith+Nephew report above. [Source](https://www.biopharmawatch.com/news/ANIK/anika-reports-third-quarter-2026-financial-results) - **FX Shoulder Solutions announces FDA 510(k) clearance of Easytech Reversed, which it describes as the first FDA-cleared stemless reverse shoulder system in the US; 90-patient, seven-site IDE study begun 2018 with follow-up completed 2023; no outcomes and no K number in the release** — FX Shoulder Solutions announced the 510(k) clearance on Nov 5, and the first-in-US statement is the company's. Independently reported by ORTHOWORLD (https://www.orthoworld.com/fx-shoulder-solutions-earns-510k-for-easytech-reversed-system/) on Nov 6; the IDE enrollment was reported in 2022 (https://www.orthoworld.com/ide-study-update-fx-solutions-reversed-stemless-shoulder/). [Source](https://www.prnewswire.com/news-releases/fx-shoulder-solutions-makes-history-with-fda-clearance-of-easytech-reversed-the-first-and-only-stemless-reverse-shoulder-system-in-the-united-states-302931549.html) - **J Arthroplasty network meta-analysis of TKA alignment, 61 studies (22 RCTs), 7,822 patients: Forgotten Joint Score vs mechanical alignment +14.24 functional, +12.28 unrestricted kinematic, +8.75 restricted kinematic; only functional alignment exceeded the lower MCID, heterogeneity was high, unrestricted kinematic advantage 13.76 in observational studies vs 7.49 in RCTs; GRADE low to very low** — A systematic review and network meta-analysis published online Nov 6 (doi 10.1016/j.arth.2026.11.002) found statistically better Forgotten Joint Scores with non-mechanical alignment strategies but concluded that clinically meaningful and certain superiority over mechanical alignment is not established. Peer-reviewed journal source; the show attributes the findings to the paper. Zimmer Biomet symposium listing (Nov 6, 'The Future Is Now — From Kinematic Alignment to Intelligent Surgery'): https://meddeviceguide.com/press-releases/zimmer-biomet-to-preview-the-next-era-of-intelligent-orthopedic-surgery-at-aahks-2026-20261029de82723 [Source](https://pubmed.ncbi.nlm.nih.gov/42994644/) - **Am J Sports Med multicenter placebo-controlled RCT (NCT04440189, GID BIO): 114 patients with moderate-to-severe knee OA randomized to a single 25-million-cell autologous adipose SVF injection (n=83) or placebo (n=31); 12-month responder rate 51.8% vs 29% (difference 22.8%, 95% CI 3.5-42, one-sided P=.0149); no serious investigational device-related adverse events** — A multicenter IDE trial published online Nov 5 (doi 10.1177/03635465261498163) reports a 12-month responder benefit for point-of-care adipose stromal vascular fraction against placebo. The ClinicalTrials.gov record (https://clinicaltrials.gov/study/NCT04440189) confirms GID BIO as sponsor and enrollment of 114; MRI was obtained but is not reported in the abstract. [Source](https://pubmed.ncbi.nlm.nih.gov/42989897/) ### Contribute to the Brief Faculty can send the show a note — a reaction to a paper, a correction, a read on a rule change — either written, which we shape for broadcast and read in the show's voice, or as a voice note under three minutes, which airs in your own voice. Send one from [Studio](https://next.doc.social/studio). Not on doc social yet? [Contribute a lecture or join the network](https://next.doc.social/contribute) — doc social is a clinical education platform for clinicians, and this show is one part of it. _Narration is synthesized. Reporting and editorial judgement are ours, and every story above links to its source._