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.

The joint collaboration is established for research, development and manufacturing activities for commercialization of 7 Abbreviated New Drug Applications (ANDAs), which are currently under development at Panacea Biotec, representing a total estimated market potential of more than USD 800 million.

Under the collaboration, Panacea Biotec will be responsible for development, filing, registration, manufacturing & supply of these ANDAs, while Bionpharma Inc. will be responsible for importation, warehousing, sales and distribution of these ANDAs in the United States and its territories. Under this joint collaboration, both companies intend to expand the scope of their alliance by adding new products to the collaboration from time to time.

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 commercialized under a separate exclusive license and supply agreement.

Shares of the company gained Rs 5.15, or 3.82%, to trade at Rs 140.00. The total volume of shares traded was 33,551 at the BSE (1.38 p.m., Friday).