Panacea Biotec signs seven drugs deal with Bionpharma Inc
7 drugs represent a total estimated market potential of more than $800 million
Panacea Biotec will be responsible for development, filing, registration, manufacturing & supply of these ANDAs
Bionpharma Inc. will be responsible for importation, warehousing, sales and distribution of these ANDAs in the United States and its territories.
Panacea Biotec on Friday said that the company is entering into a joint collboration with Bionpharma Inc of the USA for development, licence, manufacturing, supply and sales of seven complex generic pharmaceutical products.
Panacea Biotec said, "Under a previous arrangement, Bionpharma is also the exclusive distributor for 2 ANDAs of Panacea Biotec for the US market. These ANDAs have already been commercialised under a separate exclusive license and supply agreement."
Rajesh Jain, Joint Managing Director, Panacea Biotec said “This joint collaboration reflects the shared belief between Bionpharma and Panacea Biotec that the development and commercialization of high barrier to entry & complex generics needs significant innovation, technical expertise, infrastructure and investment to achieve the edge in market place”.