Panacea Biotec enters international collaboration for generic product
The collaboration is for supply of an immunosuppressant generic product.
New Delhi, December 24, 2014: Drug firm Panacea Biotec has entered into collaboration with an international pharma company for development and supply of an immunosuppressant generic product.
The collaboration has been established on December 23, 2014 for research, development and subsequent ANDA submission for a generic immunosuppressant drug, the company said in a BSE filing. However, the company has not disclosed the name of the company it has collaborated with. The company also added that under the terms of agreement, Panacea Biotec shall receive an upfront research fee as well as milestone payments linked with the development of the product.
The company has said that this collaboration is an example where two organisations leverage each other's strengths and resources in a highly synergistic manner to reach a shared objective. Panacea Biotec will be responsible for manufacturing and supply of the product to the partner company, upon commercialisation of the product, while the partner would be responsible for front end sales and distribution.