Panacea Biotec’s material wholly owned subsidiary -- Panacea Biotec Pharma through its strategic partner Apotex Inc., Canada has launched Paclitaxel Protein-Bound Particles for Injectable Suspension (Albumin-Bound), a generic version of Abraxane in the Canadian market.
Paclitaxel Protein-Bound Particles for Injectable Suspension is indicated for the treatment of metastatic breast cancer, non-small cell lung cancer and adenocarcinoma of the pancreas. ABRAXANE is a registered trademark of Abraxis BioScience, LLC, which is a wholly owned subsidiary of Bristol- Myers Squibb Company. This is the first generic launch of Abraxane in Canada and provides patients with a high quality medication at an affordable price. The current market size of Abraxane in Canada is $26.4 million.
Panacea Biotec had an existing collaboration agreement with Apotex Inc. for research, development, license, supply and sale of the said Product in US, Canada, Australia & New Zealand. Pursuant to the said collaboration agreement Panacea Biotec had undertaken research, development and manufacturing of the product at its stateof-the art pharmaceutical formulations facility at Baddi, Himachal Pradesh and Apotex Inc. will undertake the marketing, sales and distribution thereof in the Canadian market.
Panacea Biotec is a leading research based Biotechnology Company with established research, manufacturing and marketing capabilities.
