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Panacea Biotec Ltd

BSE: 531349 | NSE: PANACEABIO ISIN: INE922B01023
Market Cap: [Rs.Cr.] 858.12 Face Value: [Rs.] 1
Industry: Pharmaceuticals - Indian - Bulk Drugs & Formln

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Management Discussions
Management Discussion And Analysis

Management Discussion & Analysis

Industry Structure & Developments

Global Vaccine Industry

Vaccine immunization has proved to be one of the most powerful and cost e.ective healthinterventions tools globally saving millions of lives every year. The global human vaccineindustry has experienced strong growth in the years gone by and is now estimated to bearound US$30 billion. The UN agencies have procured vaccines worth US$1.43 billion in 2011as against US$0.34 billion in 2002. As per industry reports the global vaccine industry isfurther expected to continue its growth at a CAGR of 12% upto 2025 crossing US$100billion. The growth in vaccine market is driven by multiple factors including increasingawareness, availability and a ordability of critical vaccines.

The multi-national companies (MNCs) continued to dominate the global vaccine marketwith %ve MNCs controlling around 80% of the global markets in value terms. With theincreased economic growth in developing countries, MNCs have started focusing on keyemerging markets like Mexico, Brazil, Turkey, India, Russia and China. The developingworld comprises of 80% of the population and accounts for 20% of the market in valueterms.

The vaccine market continues to be one of the most promising opportunities as there areseveral critical vaccines still under development including vaccines for malaria, dengue,HIV, TB etc. which will have a great potential in future.

Indian Vaccine Market

The Indian vaccine industry is estimated at around US$ 900 mn with a large portion ofthis getting exported out of India. The industry is expected to grow at a CAGR of 12-15%over the next v e years.

India has achieved a signicant milestone in its vaccination history by becoming thelatest polio free country. The World Health Organisation declared India as a polio freecountry in February 2014. Panacea Biotec has played a pivotal role in the polioeradication not only from India but also from many other countries by supplying over 10billion doses of oral polio vaccine in the last over 10 years.

India is now emerging as a leader in vaccines production with about one-third share ofthe total market. Indian companies have now undertaken the challenge to progress from justproviding few a ordable vaccines to developing cutting edge quality vaccines for not justIndia, but also for the rest of the world.

Global Pharmaceutical Market

The global pharmaceutical industry continued its slow growth in 2013 also and isestimated to be around US$ 1 trillion. As per IMS, the global pharmaceutical market willreach between US$1.135 trillion and US$1.235 trillion by 2017. The United States willcontinue to be the largest market with ~31% share followed by Japan with 9% share. The EU5markets (France, Germany, Italy, Spain and United Kingdom) collectively are projected tohold a 13% share, and Brazil, Russia and India will collectively hold 8%.

With many block buster drugs going o patent, the MNCs are under pressure to sustaintheir growth organically as well as inorganically. Increasing regulatory compliances havea ected many companies in the developing world across the globe as FDA has suspended theirfacility approvals. Global pharmaceutical industry is expected to remain under pressure inthe short to mid-term as governments are increasing price controls in the several markets.

Indian Pharmaceutical Market

The country's pharma industry accounts for about 1.4% of the global pharma industry invalue terms and 10% in volume terms. The Indian Pharmaceutical industry has grown at aCAGR of 14.3% from US$ 18.7 billion in FY09 to ~US$ 32 billion in FY13, comprising ofdomestic market of ~US$ 16.4 billion and exports of ~US$ 15.6 billion. However duringFY14, the industry has grown only by 6.2% which is lower than the historical growth rate.The main reason for lower growth is the implementation of the new drug pricing policywhich resulted in price cuts of 348 essential drugs. The Indian pharmaceutical market ispoised to grow at a CAGR of 15% to reach US$ 85 billion by 2020. The Indian companiesaccount for over 70% of the market share.

The country provides generic medicines to almost 200 countries and is meeting about 40%of the generic and over-the-counter drugs consumed in the US.

Increased investments by Indian and MNCs, continuous growth of the generic market,increasing a ordability and insurance coverage and large number of overseas lings made byIndian companies are the key factors that will drive the future growth of the Indianpharmaceutical industry.

Panacea Biotec Business Segments

Pharmaceutical Formulations

Over the last two decades, Panacea Biotec has established itself as a research basedleading pharmaceutical Company with strong presence in niche therapeutic segmentsincluding organ transplantation, nephrology, oncology, diabetes, pain and fever,gastroenterology and orthopedics therapies in the Indian pharmaceutical market.

The Company's brands command excellent market share in their therapeutic segments.According to AIOCD AWACS (MAT May'14) sales data, Panacea Biotec is amongst the top 60companies in the Indian Pharmaceutical Market with Nephrologists, Dentists,Orthopaedicians and Diabetologists giving the best support. As per Stockist SecondaryAudit of AIOCD AWACS (MAT May'14), Glizid-M stands at 183rd rank among top 200 brands inthe Indian Pharmaceutical market and retains number one position within its category.

The Company manufactures and markets dosage forms comprising of tablets, hard and softgelatin capsules, ointments, gels, liquid orals and injectables. Panacea Biotec isexporting its products in international markets including USA, CIS countries, LATAMcountries, Africa, Middle East and other Asian countries The turnover of pharmaceuticalbusiness has grown at a CAGR of around 10% from Rs.2,407 million in FY2010 to Rs.3,392.9million in FY2014 with operating margins of around 23-24%.

The Company is now in the process of expanding its exports business with focus on thelarge regulated markets and emerging markets. As a part of this, the Company has led 6ANDAs with the USFDA in last 2 years and is working on several other projects. The Companyplans to launch these products in the regulated markets through strategic collaborationswith leading local partners.

Domestic Sales and Marketing

The domestic pharmaceutical business of the Company can be divided into two broadsegments - Super Specialty segment and Acute & Chronic Care segment with each segmenthaving three Strategic Business Units (SBUs).

The Super Specialty SBUs focus on Transplantation & Immunology, Nephrology andOncology. The Acute & Chronic Care SBUs focus on Diabetes and related complications,Orthopaedics, Gastroenterology and Pain Management. .

Each SBU aims to attain leadership position in its covered markets and establish brandequity in respective therapeutic segment by way of introducing innovative products. TheSBUs promote a portfolio of brands to di erent specialties such as Orthopaedicians,Cardiologists, Diabetologists, General Physicians, Nephrologists, Oncologists,Haematologists, Chest Physicians, Surgeons, Dentists, Consulting Physicians, Pediatriciansand Gastroenterologists.

The turnover from domestic pharmaceutical business has grown at a CAGR of around 6%from Rs.2,114 million in FY2010 to Rs.2,719 million in FY2014 with Diabetes &Cardiology and Transplantation segment being the top two therapeutic segments contributingaround 31% and 27% respectively of the net domestic pharma revenues during the year underreview.

Transplant & Immunology SBU

The Transplant & Immunology SBU's portfolio of immunosuppressive products helpsimprove the quality of life of patients who have undergone Organ transplantation primarilykidney, liver & heart. The SBU has achieved leadership position in and has car ved aniche in the immunosuppressive segment by focusing on scientic based promotion.

The SBU has several products in its portfolio including well established brands such asPanGraf (Tacrolimus), Panimun Bioral (Cyclosporine), Mycept (Mycophenolate Mofetil),Mycept-S (Mycophenolate Sodium), Siropan (Sirolimus), EverGraf (Everolimus), Imuza(Azathioprine), VagaCyte (Valganciclovir), Amphoject (Liposomal Amphotericin B) andGrafMet (Methyl Prednisolone).

The Transplant & Immunology SBU maintained its number 1 position in its marketsegment with ~30% market share in its covered market segments. The SBU has extensivemarket coverage of over 3,800 doctors comprising mainly transplant surgeons andnephrologists, supported by %eld force strength of around 50 people. Pangraf which will becompleting its 10 years of launch in the current nancial year, continued to be no. 1 brandin Tacrolimus market in India. Mycept and Panimun Bioral also retained their number 2position in the respective segments.

This SBU is the second highest contributor in the domestic pharmaceutical business ofthe Company and will be completing its 20 years in current scal.

The SBU is currently evaluating expansion into other indications wherein there isimmense scope for the entire range of Immunosuppressive product portfolios.

Nephrology SBU

The Nephrology SBU is focused on providing End to End solution in Chronic Kidneydisease (CKD) and Mineral Bone disorders (MBD) managementQ, thereby catering to need ofevery CKD patient. The SBU is focused on renal anemia management, renal nutrition andCKD-MBD therapy. The Nephrology SBU is amongst the top 10 leading players with around 5.6%market share in its market segment. The SBU has a strong eld force of around 50 peoplecovering ~1,850 nephrologists across the country.

The SBU currently has a brand portfolio of Epotrust (Erythropoietin), Overcom (IronSucrose), Alphadol (Alfacalcidol), SevBait (Sevelamer Carbonate), SevBait-DT (SevelamerCarbonate in dispersible form), Fosbait (Lanthanum Carbonate), Mimcipar (CinacalcetHydrochloride), K-bait (Calcium Polystyrene Sulphonate) and dietary supplements brandsProseventy and Renhold.

Renal anemia segment is the largest contributor to the overall Nephrology businesshaving a share of 52% to the total business. Epotrust is amongst the fastest growing brandof Erythropoietinin anemia market & o ers a wide range of SKUs (from PFS toVials)catering the need of individual patients.

OncoTrust SBU

Cancer is the second leading cause of death worldwide. Like the western world, theperil of cancer has reached huge proportions in India with nearly 1 million new cancercases getting added every year to the existing cancer burden. The increasing cancerincidence has witnessed the Indian oncology community ghting this battle against cancerwith more dedication. This SBU has 15 products encompassing the major indications incancer such as lung, breast & colorectal cancer, gliomas, haematology and supportivecare. With a eld force of over 40 people, the SBU covers over 1,220 doctors across thecountry.

Oncotrust SBU is focused on providing a ordable and quality chemotherapy to cancerpatients for better cancer management. PacliALL maintained its number 2 position in itsmarket segment. The new products launched by this SBU during the year included Neupokine(Filgrastim PFS) & re-launch of PeggTrust (PegFilgrastim) with new formulationmatching international standards.

Diacar Alpha SBU

India is the diabetes and hypertension capital of the world and Indians are furtherheading towards becoming the CAD (coronary artery disease) capital of the world. WHOestimates that diabetes related mortality may increase up to 35% by 2015. India is poisedat the ascending limb of epidemic diabetes. By the end of year 2025, 70 million peoplewill su er from diabetes and associated complications.

Diacar Alpha SBU is the highest revenue contributing SBU in the Company(s domesticpharmaceutical business with dedicated marketing and sales infrastructure for Diabetes andCardiovascular therapy management. Diacar Alpha focuses on specialties such asEndocrinologists, Diabetologists, Cardiologists and Physicians in a %ercely competitivescenario and has achieved leadership position in oral anti-diabetic segment. With a 350people strong eld force, Diacar Alpha SBU covers around 27,000 doctors.

The agship brand of Diacar Alpha is Glizid-M (Gliclazide & Metformin) which is theNo. 1 brand in its market segment as well as within the Company across all SBUs has alsobecome the Company's rst brand in pharmaceutical segment to cross annual revenue of overRs.50 Crores during the year under review.

The other major brands of Diacar Alpha include Glizid (Gliclazide), Glizid-MR(Gliclazide Modi%ed release), Betaglim (Glimepiride), Metlong (Metformin), Ramipril-RAMY(modied release Ramipril with double peaks), Lower-A (Atorvastatin) and Myelogen Forte(Methylcobalamin, Alpha Lipoic Acid, Enzogenol, Vitamin B 6 & Folic Acid).

Procare SBU

Procare SBU caters to chronic care segment of Orthopedic and Gastroenterology therapythrough focus on specic disease management. Within Orthopedics, SBU's focus is onosteoporosis, osteoarthritis and rheumatoid arthritis management and withinGastroenterology the focus is on constipation, anorectal disorders, acid-peptic disordersand liver disease management.

This SBU promotes a portfolio of brands with special focus on Orthopaedicians, Surgeonsand Gastroenterologists along with Consulting and General Physicians. The brand portfolioof Procare includes Sitcom (Euphorbia Prostrata) Tablets & Cream, Sitcom Forte(Euphorbia Prostrata & Calcium Dobesilate) tablets, Sitcom LD cream (EuphorbiaProstrata & Lidocaine), Livoluk (Lactulose), Livoluk Fibre (Lactulose & Ispaghulahusk), ODPep (Pantoprazole & Domperidone), Vacosteo (Zoledronic acid, 3rd generationinjectable bisphosphonate), Kondro OD (Glucosamine) & Kondro Acute (Glucosamine &Diacerein), Kondroex (Collagen peptide, Glucosamine & Vitamin C), Kondrogen (Collagenpeptide), Delupa-P (Aceclofenac & Paracetamol), Delupa-TH (Aceclofenac &Thiocolchicoside), Delupa-SP (Aceclofenac & Serratiopeptidase), Delupa-CR(Aceclofenac) & Dolzero (Tramadol Hydrochloride & Paracetamol).

The Sitcom brand range has become the rst brand range of this SBU to cross annualrevenues of over Rs.10 Crores during the year under review. With a strong eld force ofover 360 people spread Pan-India, the SBU covers over 39,000 doctors.

Growcare SBU

Growcare SBU focuses on gastrointestinal (GI), anti-hemorrhoidal, cough & cold,vitamins and minerals and pain & fever management therapies. Committed to reduce theburden of these diseases, Growcare marks the Company's presence in therapy areas such asanorectal disorders (piles and hemorrhoids), gastrointestinal, respiratory (cough, coldand allergy) and anti-infectives.

The die rent specialties serviced by Growcare SBU are General Physicians, ConsultingPhysicians, ENT Surgeons, Pediatricians and General Surgeons. The SBU has a eld force ofaround 300 people covering around 23,000 doctors.

The major brands of Growcare includes Thank OD Tablet & Cream, Thank OD Forte &LD Cream, Ocimix (Ornidazole), To MD, To. DC & To. Expectorant, Nimulid &Nimulid-MD (Mouth dissolving), EnBa (Rabeprazole Sodium & Domperidone), Livoluk kidand Wholesum (dietary supplement).

New Product Launches

Panacea Biotec continues to expand its product portfolio by launching new products inthe domestic pharmaceutical market every year. During the year, the Company launched newproducts in various therapeutic categories including:

• Epotrust 6000 PFS (erythropoietin) for renal failure;

• Alphadol 0.5 mcg (alphacalcidol) capsules to treat renal bone diseases as wellas rickets;

• Ilaone (ilaprazole 10 mg) for dyspepsia, peptic ulcer disease;

• Grafmet 500 mg Inj (methylprednisolone) for certain forms of arthritis, skin,blood, kidney, eye, thyroid and intestinal;

• Kondrogen Powder (collagen peptides & protein) in Osteoarthritis;

• Neupokine (recombinant human G-CSF 300 mcg.) in Chemotherapy; and

• Peggtrust 0.6 (pegylated recombinant human G-CSF 6 mg) in Chemotherapy.

Brands Review, Standing and Market share

Over the years, Panacea Biotec has established leading brands that enjoy top of themind recall by the medical fraternity. The Company's key brands across therapeuticcategories and their ranking/market share in India include:

Brands Market Share % Ranking
Diabetes and Cardiac Care:
Glizid M 25.3 1
Glizid 40mg 28.8 1
Glizid 80mg 23.0 2
Glizid MR 30mg 15.1 2
Glizid MR 60mg 6.9 3
Glizid Total 7.8 4
Pain Management:
Nimulid MD 5.4 3
Nimulid 100mg 6.4 2
Nimulid MR 13.0 2
Nimulid SP 8.7 4
Anti-arthritis & Anti-osteoporosis:
Kondro OD 11.3 3
Kondro Acute 14.0 3
Kondroex 35.1 1
Vacosteo 9.1 4
Livoluk 4.6 4
Livoluk Fibre 7.4 3
Sitcom Tabs 7.3 4

*Source: AIOCD AWACS MAY'14.

*Market Share and rank is calculated within its immediate operating market i.e. thestrength or the immediate market (wherever applicable).

International Pharmaceuticals Business

The year under review was a year of consolidation and stabilisation for theInternational Pharmaceuticals Business of the Company. During the year, the company'sinternational pharmaceutical formulation business generated net revenue of Rs.799.1million with Russia contributing ~42% of such revenues.

ROW Countries

The major highlights during the year under review for the international pharmaceuticalformulation business in ROW countries include:

• Panimun Bioral is the no. 1 brand in terms of units being supplied through theInstitutional / DLO systems in Russia.

• The Company is no. 1 in Nephrology segment in Sri Lanka, Kenya & other EastAfrican markets.

• 14 products launched in 7 markets and business activities initiated in 4 newmarkets in the current year.

• The Company has forayed into the GCC markets by successfully registering theproducts in UAE. Commercialization of products is expected to start during the currentnancial year.

The Company is in the %nal stages of registration and approval in key markets likeEgypt, South Africa & Saudi Arabia (GCC). The Company is also in process of ling itsoncological range of products in the key emerging markets and expects to start the exportfrom the current nancial year onwards.

Regulated Markets

The Company has laid its future growth strategy with focus on the regulated markets ofUS and Europe. The Company launched its rst product Tacpan (Tacrolimus) in 2011 in Germanyand it has now become the 2nd largest generic in Germany. The Company's Indirect WOS isselling the products there in trade as well as in tender markets. The Company has alsolaunched Tacrolimus in USA in December 2012 and is currently in the process of entering inthe key pharmacy accounts through its local strategic partner.

Over the last few years, the Company's R&D centers have successfully completeddevelopment of several products and the Company has led 6 more ANDAs with USFDA since itsrst product was launched in USA.

The Company's strategy is to develop and launch selective portfolio of dicult t odevelop generics with high barrier to entry. Following this strategy the Company hasalready identied some niche products which are currently under di erent stages ofdevelopment at its R&D Centers, including: Cyclosporine SEDDS capsules; Anti-cancerDrugs - Nanoparticles, Depot Injection, Liposomes; Urology Drug Depot Injection;Antifungal Drug; Immunosuppressant Modi%ed Release and Antiemetic Nanoparticle OralFormulation.

The Company is also developing products for registration pursuant to application undersection 505(b)(2) in US markets, including ESRD Drug Suspension, Pregabalin Modi%edRelease, Voriconazole Modi%ed Release and Mycophenolate Modied Release.

The Company has also created a global presence through its wholly-owned subsidiaries instrategic markets, Germany and Switzerland.

Panacea Biotec (International) SA (PBS) the Company's strategic WOS based out ofSwitzerland, is operating with a collaborative business model. PBS invests in valueadded/niche products which are manufactured in state of the art manufacturing facilitiesof strategic partners. These products are then marketed through strategic partners inseveral countries around the globe. With this strategic initiative, PBS has developed aniche portfolio of products in markets like Australia, New Zealand, UAE, Malaysia and fewother ROW markets. During the year, PBS achieved a turnover of CHF 0.7 million (Rs.48.3million) and net pro%ts of CHF 0.2 million (Rs.11.3 million). PBS plans to expand itspresence in other South East Asian and CIS markets during the current year.

Panacea Biotec Germany GmbH (PBGG) the Company's indirect WOS (through PBS) based outof Germany achieved a turnover of Euro 1.3 million (Rs.102.9 million) and net prots ofEuro 0.005 million (Rs.0.45 million) during the year, from the sale of TACPANR(Tacrolimus) and MOWELR (Meropenem) in German markets. Its product TacpanR has become theleading Tacrolimus generic in the German market. PBGG had concluded supply agreements withtransplant hospitals for the treatment of de-novo patients and participated in tenderswith health insurance companies. Now the majority of health insurance companies have anagreement with PBGG to dispense Tacpan to their members in public pharmacies. IMS dataindicates a monthly value of more than 300k EURO which means an annual sale of more than3.6 Mio EURO per year. The other promising Product (MOWEL) is also making an inroad inGerman Transplant Hospitals and is well accepted by Transplant surgeons.

Vaccines Business

Vaccines continue to be the core focus area for Panacea Biotec. Panacea Biotec hasdeveloped some of the vaccines rst time in the world including the fully liquidpentavalent vaccine Easyv e-TT, bivalent Oral Polio Vaccine, Monovalent Oral Polio Vaccine(Type I & Type III). The Company has played pivotal role in polio eradication fromIndia & many other countries by having supplied over 10 billion doses of OPV in thelast over ten years.

On 2nd October 2013, Panacea Biotec successfully received the prestigiouspre-quali%cation from World Health Organisation (WHO) for its Easyv e-TT vaccine which wasdelisted in 2011. The Company also received long term supply award from UNICEF for theperiod 2014-2016. The Company also resumed supplies of Easyv e-TT to UNICEF during thelast quarter of FY2014.

As part of the long term growth strategy, the Company is developing several criticalvaccines including the hexavalent vaccine, pneumococcal vaccine, Japanese encephalitisvaccine and Dengue vaccine.

Panacea Vaccines SBU

The Company's SBU, Panacea Vaccines is dedicated for marketing of the Company'spediatric vaccines in the domestic vaccines market. The major brands of this SBU includeEasyv e-TT (DTwP-HepB-Hib), Polprotec (Inactivated Polio Vaccine), NovoHib (HaemophilusInGuenza Type B vaccine) and Primopol (Trivalent Oral Polio Vaccine). The SBU has a strongeld force of around 100 people which covers around 15,000 pediatricians spread acrossIndia.

Being the rst year of operations, the SBU has taken several marketing and customerinteraction initiatives to make its presence felt in the Indian vaccine industry. The SBUhas already successfully re-launched Easyv e-TT, Polprotec and Novohib in the privatemarket and is now consolidating the overall position.

Going forward, the portfolio will be expanded by introducing Easyfour-TT and othervaccines which are currently under development in the Company.

International Vaccines Business

In the international markets, the Company focuses on the emerging and ROW countries.Over the last couple of years strategic collaborations have been initiated in more than 35countries with customized business models. Till date vaccines have been registered in 11countries with further registrations in around 20 countries expected in the near future.The Company is targeting to enter emerging markets with sizeable birth cohort (3-5 mn) toexpand business with a view to reduce dependence over institutional business.

Supply Chain Management & Logistics Network

Panacea Biotec has strong Supply Chain Management (SCM) systems designed for creatingend-to-end visibility and controls right from sourcing of materials till collection ofreceivables in both Pharmaceuticals and Vaccines segments. The Company has Pan-India salesand marketing network covering 600 districts and targets more than 1.5 million customersthrough a strong logistics network comprising of one mother warehouse and 30 SalesDepots/CFA (comprising of 23 Pharma Sales Depots/CFAs & 7 Vaccine CFAs). Productavailability across India is ensured through vast distributor network of around 1,500Pharma Distributors and 325 Vaccine Distributors.

Manufacturing Facilities

The Company's manufacturing facilities for vaccines and pharmaceutical formulations aresituated in India in Delhi, at Lalru in Punjab and at Baddi in Himachal Pradesh. TheCompany also has state of the art integrated facility for bulk vaccines, antigens &biopharmaceuticals at Lalru in Punjab. The manufacturing facilities have been set up incompliance with international regulatory standards including USFDA, WHO-cGMP and EuropeanUnion standards.

The Company's manufacturing expertise lies in various solid, semi-solid & liquidoral dosage forms and vaccines such as:

• Oral-solids - Conventional tablets/capsules, Controlled/ delayed release/entericcoated tablets and capsules, Tablet in Tablet, Tablet in Capsule, Multi Layered Capsules,Hard gelatin/Soft Gelatin capsules, Mouth Dissolving/Chewable Tablets, beadsencapsulation, Coating (%lm, sugar & functional), Taste masking and fast-dissolvingtablets;

• Semi-solids - Ointments/Creams/Gels, Transdermal Drug Delivery System;

• Liquids - Suspensions/Syrups/Solutions;

• Vaccines - Recombinant Vaccines, Combination Vaccines, Cell culture Vaccines andlive vaccines; and

• Anti-cancer - Injectable.

Pharmaceutical Formulations Facility at Baddi

The Company's state-of-the-art pharmaceuticals formulations facility at Baddi, HimachalPradesh became operational in year 2006. The facility is equipped for Bi-layer tablets,Tablet-in-Tablet, Mini-tablets, Complex Sustained release coatings and Delayed releasecoatings. The facility has been approved by National Regulatory Authority of India (NRA),USFDA, BfArM Germany and ANVISA Brazil etc.

The facility has faced many regulatory audits and successfully received productapprovals as under:

• Cleared 3 audits from USFDA,

• Cleared audit from BfArM Germany, and

• 161 products approval received from 14 countries.

The Company also has recently set up an Cytotoxic (Anti-Cancer) Formulation facility atBaddi, Himachal Pradesh, with two lines dedicated for liquid & lyophilized vials aswell as pilot scale up batches complying to USFDA, EU, ROW and cGMP norms. Oncologyfacility is equipped for conventional, nano particular, liposomal, lyophilized products.The Company has already led its rst ANDA with USFDA from this facility in June 2014.

The total installed capacities of various production lines at Pharma FormulationFacility at Baddi are as under:

Production Lines Annual capacity (mns)
Anticancer (Cytotoxic Products)
Liquid and lyophilized Injectables 1.2
Other Dosage Forms
Tablets 3,000
Hard Gelatin Caps 650
Soft Gelatin Caps 150
Ointments & Gels 42
Liquid Orals 24
Dietary Supplements 300

Pharmaceutical Formulations Facility in New Delhi

The Company's pharmaceuticals formulation facility in New Delhi caters to therequirements of some products for emerging and ROW markets.

Vaccines Formulation Facility at Baddi

The Company's state-of-the-art vaccine formulation facility at Baddi in HimachalPradesh, located in a complex of 23 acres of land, comprises of two blocks and had startedits operations in year 2008. The facility consists of production, quality control andquality assurance, warehousing and cold storage facility.

The facility has lling lines for injectable liquid Vaccines in pre-lled syringe (PFS)and liquid & lyophilized Vaccines in vials. The total lling capacity of this facilityis 600 million doses per annum capable of being increased by addition of third line toaround one billion doses per annum. The facility has been approved by Indian NRA and alsopre-qualied by WHO for the pentavalent vaccine Easyv e-TT.

Vaccines Formulation Facility in New Delhi

The Company's vaccines formulation facility in New Delhi is a c-GMP compliant facilityfor Oral Polio Vaccines (tOPV, mOPV1, mOPV3 & bOPV) and has also been approved by NRA.The annual production capacity of the facility is around 800 million doses of Oral Poliovaccines in two shift operation.

Vaccine Antigens & Biopharmaceuticals at Lalru, Punjab

The Company has bulk vaccine and antigen manufacturing facilities with dedicated blocksfor manufacture of recombinant, bacter

Futures & Options Quote
Future Data Not present
Key Information

Key Executives:

Soshil Kumar Jain , Chairman & Wholetime Director

Ravinder Jain , Managing Director

Rajesh Jain , Joint Managing Director

Sandeep Jain , Joint Managing Director

Company Head Office / Quarters:

Ambala-Chandigarh Highway,
Phone : Punjab- / Punjab-
Fax : Punjab- / Punjab-
E-mail : companysec@panaceabiotec.com
Web : http://www.panaceabiotec.com


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