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Panacea Hopes Bionpharma Deal Can Aid Recovery

 
• By Penelope MacRae

India’s Panacea Biotec is hoping an alliance with New Jersey-based pharmaceutical startup Bionpharma Inc to make seven complex generic drugs for the US with a potential market of over $800m will help its financial recovery.

Pharma pills
PANACEA HOPES THE BIONPHARMA DEAL WILL IMPROVE ITS FINANCIALS

Panacea Biotec Ltd. has entered into a broad collaboration with Bionpharma Inc for certain complex generic products. The deal is part of Panacea’s drive to expand its US product portfolio as it targets global player status in technology-based specialty generics and, more urgently, seeks to return to profit. The tie-up is the Indian firm’s second with Bionpharma and involves R&D, manufacturing and marketing seven ANDAs, mainly in the organ transplant immunosuppressant field.

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