Panacea Biotec introduces generic version of cancer drug in Canada

November 1, 2023
News
47 secs read

Source: The Hindu

Drugmaker Panacea Biotec has unveiled in the Canadian market Paclitaxel Protein-Bound Particles for Injectable Suspension (Albumin-Bound), which is indicated for treatment of metastatic breast cancer, non-small cell lung cancer and adenocarcinoma of the pancreas.

The product is a generic version of Bristol- Myers Squibb Company subsidiary Abraxis BioScience’s Abraxane. It is the first generic launch of Abraxane in Canada and introduced by wholly owned subsidiary Panacea Biotec Pharma through strategic partner Apotex Inc. of Canada. The market size of Abraxane in Canada is $26.4 million, Panacea said citing IQVIA CDH moving annual total for September 2023.

Under a collaboration agreement with Apotex Inc. for research, development, license, supply and sale of the product in the U.S., Canada, Australia and New Zealand, Panacea Biotec had undertaken R&D and manufacturing of the product at its pharmaceutical formulations facility in Baddi, Himachal Pradesh. Apotex Inc. will undertake the marketing, sales and distribution in the Canadian market.

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