Coloplast reported 6% organic growth in its fiscal third quarter, beating revenue expectations, while EBIT before special items of DKK 1.93 billion and a 26% margin came in slightly below analyst forecasts as currency headwinds and weakness in Biologics weighed on profitability. The Kerecis-led Biologics unit posted a 6% sales decline and a negative 5% EBIT margin before purchase-price amortisation as U.S. reimbursement reform continued to hit outpatient wound-care demand, while inpatient demand remained relatively stable. Coloplast expects Kerecis to deliver about 0% organic growth and around 0% EBIT margin for the full year, including a roughly DKK 3 billion impairment loss tied to the acquisition in special items. Growth elsewhere was led by Continence Care, up 8% on strong U.S. demand for Luja, and Interventional Urology, up 7% on the U.S. men's health business. Ostomy Care rose 5%, though China was hurt by inventory reductions linked to a new channel strategy that is expected to continue into the fourth quarter. Management maintained 2025/26 guidance for 5%-6% organic growth and about 5% EBIT growth in constant currencies, while highlighting the United States as its biggest near-term growth opportunity, an upcoming launch for the FDA-approved Titan Prime penile implant, and a delay to the INTIBIA launch until early fiscal 2027-28.