Panacea eyes Latin America

Panacea Biotec is planning to launch its organ transplantation drugs to Latin American and South East Asian markets.

The company is also looking for enlarging the scope of organ transplantation drugs market in India by engaging an NGO to carry out nationwide organ donation promotion campaigns.

"We have tied up with local distributors in these markets. Our organ transplant brands such as Panimun Bioral, Mycept, Pangraf will be introduced in the market through existing and successful business partners in these countries" Rajesh Jain, joint managing director, Panacea Biotec said.

"We want to build global brands in organ transplantation segment" he added.

According to Jain, Panacea, that had showed 100 per cent growth in its profits during FY Q2 is to maintain the same momentum during the current quarter as well. Panacea had registered a turnover of $120 million during FY2006.

Jain feels that Panacea, claimed to be the fastest growing biotech company in the country, is likely to find itself in the big league after the successful completion of the ongoing clinical trials of its vaccine candidates.

"Our recombinant Anthrax vaccine, Hepatitis A vaccine and Japanese Encephalitis vaccine that are currently under development are likely to be commercially available by 2010. The dengue vaccine may also be ready by 2010-2011," he hoped.