Vaccine producer Panacea Biotec on Tuesday partnered with US based Osmotica Pharmaceutical to sell 18 products including liposomes, modified release oral dosage forms and depot injections in the US over next 10 years.
The collaboration is based on a 50:50 risk, investment and profit sharing by both companies and starts with a portfolio of 18 products across a broad range of therapeutic categories, with a provision to add new products by the Joint Steering Committee represented by both companies.
“We believe this collaboration will enable both partners to complementarily build upon each other’s core competencies and capabilities to help meet the needs of more patients in the US than ever before,” Rajesh Jain, Joint Managing Director, Panacea Biotec, said.
He said both the companies have the opportunity to earn $20-25 billion from this partnership.
However, both the companies did not share any investment figures and said that regulatory submission for the 18 products will start from the first quarter of 2013 and end by December 2016, he said.
Panacea's shares closed at Rs 107.25 on the Bombay Stock Exchange on Tuesday, up 20 per cent from the previous close.