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Panacea Expands Apotex Tie-Up, Drives Earnings Recovery

 
• By Penelope MacRae

Panacea Biotec is expanding its partnership with Apotex to launch a copycat version of Eli Lilly’s Effient in the US, part of an alliance-building strategy with global players that the Indian firm hopes can help pull it out of an earnings tailspin.

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PANACEA IS EXPANDING ITS ALLIANCE WITH APOTEX

Indian drug-maker Panacea Biotec Ltd. has won tentative US FDA approval for its first-to-file ANDA for a generic version of Eli Lilly & Co.’s blood-thinner Effient (prasugrel). Now, to get the copycat prasugrel to the US market, Panacea is expanding an alliance with Apotex Inc., the largest Canadian-owned pharmaceutical company.

Under the agreement, the closely held Canadian firm will handle US sales and distribution of prasugrel in 5mg-to-10mg doses while...

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