Panacea-Serum Team Up To Take Six-In-One Vaccine Global
Panacea Biotec has allied with the world’s largest-vaccine maker, the Serum Institute of India, to ramp up production of a six-in-one jab aimed at preventing killer diseases like polio and diphtheria and target a global market estimated to be worth over $1.25bn annually.
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Serum Institute hopes to hear by May from Gavi on whether it will consider the firm's $2 per dose pneumococcal conjugate vaccine for immunization programs across developing countries. Its 10-valent vaccine, versus GSK’s 11-valent and Pfizer’s 13-valent vaccines, is 30% cheaper.
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.