The company previously had exclusive global distribution rights and served as the distributor for DUROLANE in Europe, Canada and Australia.
Under the new deal, Galderma will continue to serve as the manufacturer of DUROLANE; however, Bioventus now controls all future plans and distribution for the product outside of the US.
The two firms have not disclosed the financial terms of the agreement.
Bioventus CEO Anthony Bihl said DUROLANE has been an invaluable product to numerous OA sufferers throughout the world.
"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," Bihl said.
DUROLANE is the original single-injection joint-fluid treatment and contains high levels of non-animal stabilized hyaluronic acid (NASHA) technology.
Hyaluronic acid, which is a naturally occurring molecule that provides the lubrication and cushioning in a normal joint, is injected into indicated joints affected by mild to moderate OA to help relieve pain, restore lubrication and improve joint function.