Panacea Biotech ties up with NVI

Panacea Biotech today announced a collaboration with Netherlands Vaccine Institute (NVI) for supply of bulk inactivated polio vaccines.

As per the agreement, NVI would supply the inactivated polio vaccines (IPV) which would be used by Panacea Biotech in the manufacture of finished IPV and a number of IPV-based combination vaccines.

Panacea Biotech would register the product both in India  and across the globe except the Netherlands, Denmark, Norway and Finland.

"The collaboration will substantially enhance Panacea Biotech impact, scale and size of business," Panacea Biotech joint managing director Rajesh Jain said.

The estimated demand of IPV is around 150 million doses and is likely to incease to 800 million doses by 2011 depending upon various scenarios.

The expected market size is around $800 million to $1 billion he added.