Panacea Biotec shall receive an upfront research fee, as well as milestone payments linked with the development of the product
Panacea Biotec has entered into collaboration with a leading international pharmaceutical company for the development and supply of an immuno suppressant generic product in the US.
The collaboration was recently established for the research, development and subsequent ANDA submission by Panacea Biotec for a generic immuno suppressant drug. Under the terms of the agreement, Panacea Biotec shall receive an upfront research fee, as well as milestone payments linked with the development of the product.
Upon commercialisation of the product; Panacea Biotec shall be responsible for manufacturing and supply of the product to the partner company, while the partner would be responsible for front end sales and distribution. Both companies have agreed on a hybrid model of transfer price and profit share at a pre-agreed ratio.