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Panacea Biotec ties up with Canada’s Apotex to launch Prasugrel drug in US

LiveMint logoLiveMint 11-09-2017 Livemint

New Delhi: Drug firm Panacea Biotec Ltd has signed an agreement with Canada’s Apotex Inc. to launch Prasugrel 5mg and 10mg tablets, used for the treatment of certain coronary diseases, in the US, the company said on Monday.

New Delhi-based Panacea said in a BSE filing that it has already received a tentative approval from the US Food and Drug Administration (USFDA) to file abbreviated new drug application for Prasugrel Hydrochloride 5mg and 10mg tablets.

Under a licence and supply agreement between the two companies, Apotex will be responsible for the sales and distribution of the product in the US, while Panacea will manufacture and supply the drug.

Prasugrel, which is the equivalent of the generic version of Eli Lilly’s Effient, is meant for reduction of thrombotic cardiovascular events, including stent thrombosis, in people with acute coronary syndrome.

At 12.13pm, Panacea Biotec shares were trading higher by Rs28, or 12.91%, at Rs248, while the benchmark Sensex index was trading 211 points, or 0.67%, higher at 31,899.

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