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Panacea Biotec has entered into joint collaboration for development, license, manufacturing, supply and sales of 7 complex generic pharmaceutical products with Bionpharma Inc., a generic pharmaceutical company based in the United States. These 7 ANDAs are currently under development at Panacea Biotec, representing a total estimated market potential of more than US$ 800 million.
As per the collaboration agreement, Bionpharma Inc. will be responsible for importation, warehousing, sales and distribution of these ANDAs in the US and its territories. Panacea will be responsible for development, filling, registration manufacturing and supply of these ANDAs. Further, under this agreement, both companies intend to expand the scope of their alliance by adding new products to the collaboration from time to time.
Rajesh Jain, joint managing director, Panacea Biotec said, “This joint collaboration reflects the shared belief between Bionpharma and Panaea Biotec that the development and commercialization of high barrier to entry and complex generics needs significant innovation, technical expertise, infrastructure and investment to achieve the edge in market place.”
The company has filed 7 ANDAs out of which 2 have been commercialized. Under a previous arrangement, Bionpharma is also the exclusive distributor for 2 ANDAs of Panacea Biotec for the US market.
Panacea biotec signs collaboration agreement, bionpharma, complex generics
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