Eli Lilly entered into a global collaboration deal with Synthes to

"address the needs of patients who are cared for by orthopedic surgeons," the companies announced Thursday.

 

Commenting on the agreement, the financial terms of which were not disclosed, head of Eli Lilly’s Bio-Medicines business Bryce Carmin said "together we will be able to look for new ways to treat osteoporosis and bone fractures."

 

Under the agreement, the companies will jointly develop and licence products in early stage development from Eli Lilly to Synthes for a variety of orthopaedic uses, as well as to develop osteoinductive products based on Synthes' biomaterials combined with Eli Lilly's biologics or pharmaceuticals.

 

In addition, the collaboration calls for the companies to research additional indications for Elil Lilly’s Forteo (teriparatide), as well as to co-promote the product to orthopaedic surgeons.

 

In April, Johnson & Johnson agreed to pay more than $21.3 billion to purchase Synthes. The acquisition is expected to close in the first half of next year.