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In Brief: Anika Therapeutics/Zimmer

This article was originally published in The Gray Sheet

Executive Summary

Anika Therapeutics/Zimmer: Firms ink agreement whereby Bristol-Myers Squibb's Zimmer unit gains exclusive marketing and distribution rights in the U.S., Canada and "select Asia-Pacific markets" to Anika's Orthovisc intra-articular hyaluronic acid injection for treatment of osteoarthritis of the knee, Anika says. Zimmer will make an upfront payment of $2.5 mil.; additional milestone payments to Anika could total $20.5 mil. The two companies will split revenues generated from sales of the product, for which Anika expects to submit a premarket approval application to FDA by the end of the year ("The Gray Sheet" Oct. 6, In Brief)...
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