The Hindu : Business : Panacea Biotec forms venture with Chiron for vaccines

Online edition of India's National Newspaper
Thursday, Nov 25, 2004

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Business

Panacea Biotec forms venture with Chiron for vaccines

By Our Staff Correspondent

MUMBAI, NOV. 24. Panacea Biotec, the second largest biotechnology company, today announced a new strategic alliance with Chiron Vaccines, the world's fifth largest vaccine business. The new joint venture company, Chiron Panacea Vaccines, will focus on providing new breakthrough vaccines in India.

Chiron Vaccines already has a presence in India and has successfully transferred the technology required to produce rabies vaccine `Rabipur' as well as the oral polio vaccine supplies for polio eradication programmes.

"As part of our commitment to building a healthier society, we are investing in the development of new breakthrough vaccines and technologies that can improve coverage and compliance thereby protecting children from potentially deadly diseases,'' said John Lambert, President, Chiron Vaccines, while addressing the media here today. Panacea and Chiron will be investing $1 million in the joint venture.

The new concept of fully liquid combination vaccine will bring a perspective to vaccine administration offering convenience, safety and precise dosing. Rajesh Jain, Joint Managing Director, Panacea Biotec, said, "In the last two decades, Indian companies have made significant progress in providing much needed health solutions to the people of India and their role is being recognised in various international markets as well.''

Masood Alam, CEO, Chiron Panacea Vaccines, said the Indian market for vaccines was Rs. 400 crores ($100 million).

"Of this, the paediatric segment constituted around Rs. 100 crores. We are looking to carve out 30-35 per cent of this market in the next couple of years. We have a comprehensive portfolio so a patient will not have to depend on multiple injections and multiple products.''

The two companies together were the first to develop the breakthrough fully liquid Pentavalent combination vaccine, which will protect against five potentially life threatening infectious diseases: diphtheria, tetanus, whooping cough, Hepatitis-B and H.Influenzae type b, which is a major causative bacteria for pneumonia and meningitis.

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