Researchers have been working for years to develop a reliable and cost-effective means of regenerating the hyaline cartilage found in the knee, with the aim of offering a minimally invasive treatment option for the millions of patients with painful knee osteoarthritis. Although this goal has been elusive so far, recent progress suggests the field may have turned a corner, and a large number of companies are now competing to win this quest, which many refer to as the “Holy Grail” of knee OA.

Lilly has agreed to pay $1.4bn to acquire Point even though the company’s two lead candidates are out-licensed to Lantheus. The deal looks like an early-stage play to build a strong position in an emerging field.

Scrip’s Joseph Haas and Jessica Merrill discuss the US FTC’s oversight of the Amgen/Horizon deal and what it might portend for biopharma M&A with Leerink Partners' Dan Lepanto and ZS partner Cody Powers.