Pharmaceutical Industry: Alliances Osmotica Pharmaceutical and Panacea Biotec Announce Strategic Alliance
Osmotica Pharmaceutical has entered into strategic alliance agreement with Panacea Biotec for the research, development and commercialisation of brand and generic products in the United States and key strategic markets across the globe.
New Delhi/India – Under the terms of the agreement, Panacea Biotec will lead product development and manufacturing while Osmotica will lead product registration and legal matters, as well as commercialisation. The collaboration products are expected to be sold under an Osmotica and Panacea Biotec label. This collaboration is based on equal sharing of risk, investment and profits by the companies.
Speaking on the announcement of the strategic alliance agreement, Dr. Rajesh Jain, Joint Managing Director, Panacea Biotec Ltd said, “We are pleased with this unique opportunity to collaborate with Osmotica to meet the never-ending demand for high barrier to entry and high-quality pharmaceutical products in United States. We believe this collaboration will enable both partners to complimentarily build upon each other's core competencies and capabilities to help meet the needs of more patients in United States than ever before.”