Panacea Biotec Signs Long Term Pacts with Serum Institute | CORPORATE ETHOS

Panacea Biotec Signs Long Term Pacts with Serum Institute

By: | January 18, 2018
Panaceabiotec

Panacea Biotec Ltd (BSE:531349, NSE: PANACEABIO) has signed two long term agreements with Serum Institute of India (SII) and its wholly owned subsidiary, Bilthovan Biologicals B.V.

Under the collaboration, SII is entitled to manufacture & sell fully liquid Whole cell Pertussis (wP) and Salk based Injectable Polio Vaccine (IPV) based Hexavalent vaccine (DTwP-HepB-Hib-IPV) developed & commercialized by Panacea Biotec, a first of its kind in this category.

Under the collaboration, Serum Institute of India will ensure supply of TrV bulk to Panacea Biotec, an important constituent of the Hexavalent vaccine, from its wholly owned subsidiary BBIO, a bioengineering and pharmaceutical company, registered in The Netherlands having technology and expertise for making the IPV, earlier possessed by only 3 other vaccine manufacturers in the World.

Dr Rajesh Jain, Joint Managing Director, Panacea Biotec said that millions of children in developing countries with an annual birth cohort of approx. 121 Million will get an easy access to a fully liquid Hexavalent vaccine containing six very important antigens to protect against six dreaded diseases i.e. Diphtheria, Tetanus, Pertussis, Hepatitis B, Haemophilus influenza type B & Polio. Dr. Rajesh Jain added that it is the first fully liquid wP-IPV based hexavalent vaccine in the World which Panacea Biotec has developed making India proud under Government of India’s Make in India Program and currently being marketed in India  under brand name EasySix.

Panacea Biotec surged 7.20% to Rs 275.50 in Thursday morning trade. On technical charts, RSI of 71 is bullish while MACD line has witnessed a bullish crossover indicating buy.