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Panacea Biotec collaborates with leading International Pharmaceutical Company

24 Dec 2014 Evaluate

Panacea Biotec has entered into collaboration with a leading International Pharmaceutical Company for the development and supply of an immunosuppressant generic product in USA. The collaboration has been established on December 23, 2014, for the research, development and subsequent ANDA submission by Panacea Biotec for a generic immunosuppressant drug.

Under the terms of the agreement, the company shall receive an upfront Research Fee, as well as milestone payments linked with the development of the product. Upon commercialization of the product, the company shall be responsible for manufacturing and supply of the product to the partner company, while the partner would be responsible for front end sales and distribution in USA. Both companies have agreed on a hybrid model of transfer price and profit share at a pre-agreed ratio.

Panacea Biotec shall undertake product development and shall manufacture & supply the products; while Rising Pharmaceuticals shall be responsible for sales and distribution of the products in USA. Both companies intend to expand the scope of the alliance by adding new drug delivery based complex generic products to the collaboration.

Panacea Biotec Share Price

342.05 -15.95 (-4.46%)
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