Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
21 October, 2014 04:18 IST
News
Panacea ties with Kremers for 11 high entry barrier generics
Source: IRIS | 19 Nov, 2012, 12.06PM
Comments  |  Post Comment

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).


Live News
Govt to e-Auction coal mines - 20-Oct-2014 21:00
BGR Energy secures new contracts worth Rs 2.5 bn - 20-Oct-2014 19:24
Genuine Parts Q3 profit climbs - 20-Oct-2014 19:17
Petmed Express Q2 earnings plunge - 20-Oct-2014 19:00
Halliburton Q3 profit jumps - 20-Oct-2014 18:53
Rupee gains 8 paise against dollar to settle at 61.36 - 20-Oct-2014 18:38
Lennox International Q3 profit climbs - 20-Oct-2014 18:36
Bank of Marin Bancorp Q3 profit jumps - 20-Oct-2014 18:18
Hasbro Q3 profit jumps - 20-Oct-2014 17:53
Community Bank System Q3 profit rises - 20-Oct-2014 17:38
VF Corp Q3 profit climbs - 20-Oct-2014 17:33
more...
* Q - Quote , N - News , C - Chart , F - Financials
Comments Post comment 
 Post Comment
Name Email
Comment
Security Code type   pws98s into this box
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer