Panacea Biotec announces acceptance of its ANDA
Tanay Loya / 30 Nov 2017
Panacea Biotec on Thursday announced that its abbreviated new drug application (ANDA) for paclitaxel protein-bound particles for injectable suspension, 100mg/vial was accepted for filing by US FDA.
Panacea Biotec on Thursday announced that its abbreviated new drug application (ANDA) for paclitaxel protein-bound particles for injectable suspension, 100mg/vial was accepted for filing by the US Food and Drug Administration (USFDA).
The product is the generic version of Abraxane, which is used for the treatment of Metastatic Breast cancer, non-small cell lung cancer and Adenocarcinoma of Pancreas. The drug’s annual worldwide sale is believed to be US$ 973.4 million.
The company has already commercialized the product in India and emerging markets like Sri Lanka, Turkey and is further planning to commercialize the product in the US and other markets.
Panacea Biotec is an Indian research-focused pharmaceutical and health management company involved in research, manufacturing and marketing of pharmaceutical formulations, vaccines, and natural products. It is among the top 15 pharmaceutical companies in its represented market in India.
On Thursday, Panacea Biotec opened and closed at Rs. 284.25 and Rs. 278.30 per share, respectively, declining 2.09 per cent on NSE. It attracted a traded volume of 6,15,752 shares on NSE. The share touched its 52-week high of Rs. 302.40 on Wednesday.