New Delhi: One of India’s leading vaccine companies, the Panacea Biotec has entered into a joint collaboration for the development, license, manufacturing, supply, and sales of 7 complex generic pharmaceutical products with Biopharma Inc, a generic pharmaceutical company based in the United States. The Panacea Biotec has been so far mainly recognized as a vaccine manufacturer and with this step, it seems to have taken another big leap into biopharmaceutical manufacturing and sales.
The joint collaboration between two companies has been established for the research, development and manufacturing activities for commercialization of 7 Abbreviated New Drug Applications (ANDAs), which are currently under development at Panacea Biotec, representing a total estimated market potential of more than USD 800 million.
Under the collaboration, Panacea Biotec will be responsible for development, filing, registration and manufacturing and supply of these ANDAs. Biopharma Inc will be responsible for the importation, warehousing, sales and distribution of these ANDAs in the United States and its territories.
Both companies intend to expand the scope of their alliance by adding new products to the collaboration from time to time.