Panacea Biotec today said it has inked a tripartite pact with Natco Pharma and Breckenridge Pharmaceutical Inc to manufacture and supply of Azacitidine injection, a chemotherapy drug, for the US market.
As per the terms of agreement, Natco has provided the technology for manufacturing Azacitidine to Panacea Biotec's Baddi facility.
Panacea will be responsible for manufacture and supply of the product, which will be marketed, sold and distributed by Breckenridge in the US.
In a regulatory filing, Panacea said its application (prior approval supplement) for qualifying its site has been filed with the United States Food and Drug Administration (USFDA) and the approval is expected in due course of time.
"This collaboration will enable the company to grow its revenues and will also ensure increased capacity utilisation of our oncology plant at Baddi," Panacea Biotec Managing Director Rajesh Jain said.
Shares of Panacea today ended 0.91 per cent down at Rs 256 on the BSE.
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