Panacea Biotec in JV with US' Osmotica

Biotechnology firm Panacea Biotec has signed a strategic pact with US-based Osmotica Pharmaceutical to jointly develop and sell at least 18 branded generic drugs globally over the next 10 years on a cost and profit sharing basis. While Panacea will identify, develop and manufacture drugs, Osmotica will take care of product registration, sales and marketing in the US and other global markets. As part of the agreement, Panacea will receive an initial research fee from Osmotica. Panacea would also get 50 per cent of development cost as milestone payments in future along with a fixed research fee.