Debt-ridden Indian vaccine maker Panacea to exit hospitals
This article was originally published in Scrip
The financially stretched Indian vaccines producer Panacea Biotec has put on the block its interest in an ambitious hospital enterprise as part of efforts to satisfy certain terms of a debt revamp plan.
You may also be interested in...
Promising data from Phase I clinical trials of a dengue vaccine and a $24.3m award by UN agencies for its Easyfive-TT pentavalent vaccine bode well for Panacea Biotec, but are they enough to turn the company’s fortunes around?
Distressed asset fund India Resurgence Fund, run by Bain Capital and the Ajay Piramal group, has announced a $144m bailout for financially ailing Panacea Biotec.
Panacea Biotec is expanding its partnership with Apotex to launch a copycat version of Eli Lilly’s Effient in the US, part of an alliance-building strategy with global players that the Indian firm hopes can help pull it out of an earnings tailspin.