Updated on 12 September 2012
Calling it a rebirth for the company, Dr Rajesh Jain, joint MD, Panacea Biotec, said that, "We are pleased with this unique opportunity to collaborate with Osmotica to meet the never-ending demand for high barrier to entry and high-quality pharmaceuticals in United States. We believe this collaboration will enable both partners to complimentarily build upon each other's core competencies and capabilities to help meet the needs of more patients in United States than ever before."
Speaking to BioSpectrum, Mr Jeff Hampton, senior VP, commercial operations, said, "The partnership is a cohesive force enabled by the technology that is driving the most of global collaborations. We expect the product to be in the market in next ten years. 18 projects will be initiated in different installments. While the ownerships will rest with Panacea, it will be sold under the label of both the companies in US."