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Home Industry News Synthes agrees new collaboration with Lilly

Synthes agrees new collaboration with Lilly

13th June 2011

Synthes has announced the agreement of an extensive new development and collaboration agreement with pharmaceutical company Lilly.

Under the terms of the new global partnership, Synthes is to jointly develop and license early-stage Lilly compounds for use in the creation of new osteoinductive products in areas such as spine and craniomaxillofacial treatment.

A second development programme will see the companies collaborating on the joint investigation of Lilly's osteoporosis drug Forteo in additional orthopaedic applications, as well as co-promoting the treatment in certain territories.

This partnership is intended to leverage the specific clinical, developmental and operational strengths of both companies.

Michel Orsinger, president and chief executive officer of Synthes, said: "Strategic collaborations between medtech and pharma companies represent a new and promising avenue to develop and market true innovations in a changing, dynamic market environment."

According to the firm's most recent financial report, Synthes saw a 7.8 percent year-on-year increase in global revenue during the first quarter of 2011.ADNFCR-8000103-ID-800576571-ADNFCR

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