Synthes and Eli Lilly Form Orthopedic Partnership
BY SANDER DUNCAN, JUNE 10, 2011
A meeting of the minds is underway between medtech and pharma. Synthes and Eli Lilly announced an "exclusive worldwide collaboration agreement" to jointly license, research and develop new and existing osteoporosis treatments. The agreement includes two programs, the first of which allows Synthes to develop early stage compounds originated in Lilly's labs. These drugs aim to facilitate bone growth in osteoporosis-related fractures; Lilly expects spine, trauma, reconstructive and craniomaxillofacial indications. Through a second program under the agreement, Synthes and Lilly will explore additional orthopedic indications for Lilly's osteoporosis drug Forteo. Synthes will also gain rights to co-promote the drug in the U.S. and other select markets.
Synthes has been busy of late. In April, Synthes agreed to be acquired by Johnson & Johnson for $21.3 billion, J&J's largest acquisition in its 125 year history. In May, Synthes sold its orthobiosurgery products subsidiary Noridian to Kensey Nash for $22 million.
