Panacea Hopes Bionpharma Deal Can Aid Recovery
India’s Panacea Biotec is hoping an alliance with New Jersey-based pharmaceutical startup Bionpharma Inc to make seven complex generic drugs for the US with a potential market of over $800m will help its financial recovery.
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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.
A distressed asset fund run by Bain Capital Credit and Piramal Enterprises agrees a $144m bailout for financially ailing Indian vaccines specialist Panacea Biotec.
Panacea Biotec has received another piece of good news as it strives to return to profit – this time from Ukraine which has awarded a GMP certificate to the Indian drug firm to supply 22 medicinal products to the country. It also opens up 49 other nations for the firm’s products.