Panacea Biotec extends distribution pact with Canadian firm for US

New Delhi: Drug firm Panacea Biotec on Monday said it has expanded its existing collaboration with Canada's Apotex Inc for sales and distribution of Prasugrel tablets in the US.

"Panacea Biotec has expanded its existing collaboration with Apotex Inc, the largest Canadian-owned pharmaceutical company, for sales and distribution of Prasugrel 5mg and 10mg tablets (generic version of Eli Lilly's Effient) in the US," the company said in a BSE filing.

It further said: "The company has signed an exclusive license and supply agreement with Apotex for this purpose. Under the terms of the agreement, Apotex shall be responsible for sales and distribution of the product in the USA and the company shall be responsible for manufacturing and supply".

Panacea Biotec said Prasugrel currently has annual sales of USD 600 million in the US and is indicated for the reduction of thrombotic cardio vascular events in people with the acute coronary syndrome.

Panacea Biotec and Apotex are working on the two drug delivery technology based anti cancer generic products.