Panacea Biotec enters into a strategic alliance with Apotex

12 Dec 2014 Evaluate

Panacea Biotec, India's highly progressive research based health management company has entered into a strategic alliance with Apotex Inc, the largest Canadian owned Pharmaceutical company for research, development, license and supply of two drug delivery based high barrier to entry generic products for US, Canada, Australia and New Zealand.

The strategic alliance was initially established for a drug delivery based drug for which Panacea Biotec had received research fees and the product development is progressing on priority. Panacea Biotec and Apotex have now further expanded the scope of the collaboration by including a second drug delivery based product to the collaboration. Both the products have been developed using Panacea Biotec's proprietary platform nanoparticle, liposomal and microparticle drug delivery systems. The current sales of the innovator products are to the tune of about $1 billion.

Both companies intend to expand the scope of the alliance by adding new drug delivery based complex generic products to the collaboration. Panacea Biotec shall undertake product development and shall manufacture and supply the products to Apotex, while Apotex shall be responsible for regulatory affairs, Hatch Waxman litigation and commercialization activities in the territories.

Panacea Biotec is one of India’s leading research based health management companies with established research, manufacturing and marketing capabilities.

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