Anika announces distribution agreement

Anika Therapeutics Inc. of Bedford said today that it has signed an exclusive agreement with DePuy Mitek Inc., a unit of Johnson & Johnson, to distribute and market its osteoarthritis treatments throughout Latin America.

The five-year renewable agreement gives DePuy Mitek exclusive distribution rights for both Orthovisc and Orthovisc mini in all of South America, Central America, the Caribbean, and Mexico, said Anika, which added that DePuy Mitek currently distributes Orthovisc in the United States.

"This agreement with DePuy Mitek to distribute Orthovisc, our flagship osteoarthritis product, as well as Orthovisc mini for the treatment of smaller joints, throughout Latin America gives us a strong foothold in a new and exciting market," Anika president and chief executive Charles H. Sherwood said in a statement. "Industry analysts have projected the osteoarthritis market in Latin America to grow at a rate of nearly 20 percent per year though 2016."

Anika noted in a press release that Orthovisc is approved for use in the knee in the United States and for use in all synovial joints in the European Economic Area.
(By Chris Reidy, Globe staff)