Synthes and Lilly Sign Development and Collaboration Agreement (press release)
Synthes, Eli Lilly To Cooperate On Orthopedic Products (WSJ)
ZURICH (Dow Jones)–Swiss surgical implant maker Synthes Inc (SYST.VX) Thursday said it had signed an agreement with Eli Lilly and Co. (LLY) to license and co-develop orthopedic products.
The deal will focus on patients in surgical and orthopedic treatment, including those with osteoporosis and bone fractures, Synthes said.
Through the deal, Synthes will license early-stage compounds from Lilly for use within the orthopedic trauma, spine, craniomaxillofacial and reconstructive areas.
Synthes will also develop bone-healing products jointly with the U.S. drug maker.
“I am very excited about this unique collaboration that builds on the complementary clinical, developmental and operational strengths of both partners,” said Michel Orsinger, president and chief executive of Synthes, in a statement.
“Osteoporosis is a major unresolved clinical problem in orthopedics. The treatment of osteoporosis and resulting fractures and bone defects is a major strategic priority for the two companies.”