Bioventus Buys International Assets of Galderma Laboratories

Durham, N.C.-based Bioventus LLC will acquire the international assets of an osteoarthritis (OA) pain product from Fort Worth, Texas-based Galderma Laboratories L.P.

The product is Durolane, which is used to help relieve OA joint pain. Bioventus previously had exclusive global distribution rights and served as the distributor for Durolane in Europe, Canada and Australia. With the new agreement, Galderma will continue to serve as the manufacturer of Durolane, but Bioventus now controls all future plans and distribution for the product outside of the United States.
Financial terms of the midwinter deal were not disclosed.

“Durolane has been an invaluable product to numerous OA sufferers throughout the world,” said Anthony Bihl, CEO of Bioventus. “We see growth potential and new market opportunities for the product, and determined that controlling the assets puts us in the best position to realize these opportunities.”

On the market for more than 12 years, Durolane is a single-injection, joint-fluid treatment and contains high levels of non-animal stabilized hyaluronic acid technology. Hyaluronic acid is a naturally-occurring molecule that provides the lubrication and cushioning in a normal joint. It is injected into joints affected by mild to moderate OA to help relieve pain, restore lubrication and improve joint function. The product is available in two formats: 3 milliliters for mild to moderate knee or hip OA, and 1 milliliter for smaller joints, according to the company.

Galderma, founded in 1981 as a joint venture between L’Oréal and Nestlé, primarily makes dermatology products.

Bioventus was formed in May 2012 from the Biologics and Clinical Therapies division of Smith & Nephew. Investment firm Essex Woodlands owns 51 percent of Bioventus, while Smith & Nephew still owns 49 percent. It is a biologics company focused on the orthopedic market.