Panacea in pacts with US research body

The licensing deals include a novel technology for a hair growth hormone and a new vaccine for dengue fever.

Though the total valuation of the deals are yet to be disclosed, the company sources revealed that it would make an initial payment at the time of technology transfer.

There will be milestone payments at each stage of product development. Once the product is in the market, Panacea would also pay annual royalty to the US institute.

Revealing about the technology transfer deal with NIH, a senior executive of the company involved with its new initiatives in research & development (R&D), said that the company plans to offer the products as early as possible.

"However, since both the products are currently in the pre-clinical stage, a definite time-frame cannot be fixed now," he said.

NIH is the state medical research agency in the US- involved in medical discoveries with in-house as well as collaborative research with national and global partners.

Panacea Biotec, currently betting on vaccines in a big way after having concentrated on developing new drug delivery systems, has plans to roll out many mono and combination vaccines in the current year through its joint venture company Chiron Panacea Vaccines.

The flagship brands of the Rs 263 crore Panacea include Nimulid, Panimun Bioral and Glizid M.

These products contribute about 60 per cent to Panacea's revenues.

Its over-the-counter (OTC) segment is also gaining importance. Currently, ThankGod Pain and Itch relief cream (for piles management) and Well-Beeing capsules for menstrual pain are the top sellers for Panacea.

The company, with core focus on R&D, is setting up its fourth R&D centre in Delhi for biotech products.

The company plans to move its manufacturing base to Baddi in Himachal Pradesh.

The plant will be commissioned soon and will follow international manufacturing practices to cater to the regulated export markets.