Panacea Biotech signs strategic alliance with Rising Pharma

Panacea Biotec entered into collaboration with Rising Pharmaceuticals Inc., one of industry’s leading organizations involved in marketing and distribution of innovative branded and multi-source prescription and over-the-counter pharmaceutical products in USA.

Panacea Biotec shall undertake product development and shall manufacture & supply the products; while Rising Pharmaceuticals shall be responsible for sales and distribution of the products in USA. Both companies intend to expand the scope of the alliance by adding new drug delivery based complex generic products to the collaboration.

Panacea Biotec strives to become a major global player in technology based specialty generics applying its formulation and drug delivery expertise through more such collaborations as the Company has already filed 6 Abbreviated New Drug Application (ANDA) with FDA.