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.