Panacea Biotec has completed transfer of its pharmaceuticals business by way of slump sale (as a going concern) to its wholly-owned subsidiary viz. Panacea Biotec Pharma (PBPL), with an objective to streamline operations and create inherent focus among the businesses of the company.
PBPL obtained the drug manufacturing license on February 1, 2020. Pursuant to this and in compliance with the terms and conditions of the BTA, the transfer of the company's pharmaceuticals business to PBPL by way of slump sale as a going concern has become effective from February 1, 2020.
Panacea Biotec is a leading research based Biotechnology Company with established research, manufacturing and marketing capabilities.
