Panacea Biotech inks pact with Osmotica Pharmaceutical Corp
Panacea Biotech has entered into a global sales and distribution on a cost and profit sharing agreement with the US-based Osmotica.
Mumbai, September 11, 2012: The Indian pharma company Panacea Biotech has agreed to jointly develop at least 18 of the minimum 18 branded and generic drugs with the US-based Osmotica Pharmaceutical Corp. It is worth noting here that the pact is for the global sales and distribution on a cost and profit basis.
The Indian company said in a statement that Panacea would identify drugs before developing and manufacturing them while Osmotica would focus on the product registration, sales and marketing in the US and other global markets.
As per the terms of the agreement, Panacea would receive close to 50 per cent of the development costs as milestone payment from Osmotica as part of the agreement.