23 August, 2014 09:02 IST
News
Panacea ties with Kremers for 11 high entry barrier generics
Source: IRIS (19-NOV-12)
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Panacea Biotec, India's highly progressive research based health managment company has entered into a strategic alliance with Kremers Urban Inc. for 11 high barrier to entry generice, whose market size in US at the innovator level is around USD 4 billion.

The first product in this portfolio is to reach the market in Tacrolimus Capsules that is being launched in US in Nov 2012.

Commenting on the development, Rajesh Jain managing director, Panacea Biotech (Q,N,C,F)* said, ''Panacea Biotech's proven track record in building strong, collaborative working relationship is a key driver for this strategic alliance with Kremers Under that will accelerate the company's growth plans in the US. Approval of Tacrolimus from US-FDA is the first milestone achieved in Panacea Biotec's long term plans for USA; the largest pharmaceutical market in the world. This would be followed by a series of high barrier to entry generic product launches that are being developed by the company. The commercialization strength of Kremars Urban for high barrier to entry generics perfectly synergizes with Panacea Biotec's research, development and manufacturing capabilities for such complex products forming a true win-win strategic alliance.''

Shares of Panacea Biotec gained Rs 8.1, or 7.64%, to trade at Rs 114.10. The total volume of shares traded was 29,308 at the BSE (12.01 p.m., Monday).


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