Two Cheers For Panacea, Will It Get Three?
$24.3m Award For Easyfive-TT
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?
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Private US firm Refana, which expects its first commercial foray through a COVID-19 vaccine it will develop with Panacea Biotec, has obtained an option to acquire a stake in the Indian firm, with marketing rights to be split with the partners' 50:50 joint venture.
A US Complete Response Letter for SPARC’s paclitaxel product has cast a cloud over the project’s viability, but the company is still hopeful of an FDA approval by the fourth quarter of fiscal 2021. With the delay in commercialization, investment in some prioritized projects might also require external funding or even an exit from other research assets.
After two Indian vaccine makers, Serum Institute of India and Cadila Healthcare joined the fight against COVID-19, Bharat Biotech may follow suit. Others like Hilleman have decided against it for the moment while Panacea Biotech is weighing the pros and cons of developing a SARS-CoV-2 vaccine after a sour experience with H1N1.