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| Exchange Disseminated Time | Panacea Biotec Ltd has informed BSE the Company has entered into an agreement with Laboratorios Clausen, Uruguay for grant of non-exclusive marketing rights of the Company's medicine "Tacrolimus (Pangraph)" for few markets in Europe.
The Company has submitted to BSE a copy of the Press Release in this regard.
Press Release:
"Panacea Biotec Ltd, India's 3rd largest biotech Company has signed a non-exclusive marketing agreement with Laboratories Clausen S.A, Uruguay The agreement will give an access to Laboratories Clausen S.A to market Panacea Biotec Limited's 'Tacrolimus" (Pangraf) in few markets in Europe.
The agreement was signed in the august presence of His Excellency Mr. Danilo Astori, Vice President of the Oriental Republic of Uruguay, who was in India on an official visit to sign economic pact.
In a separate agreement of technology exchange, Panacea Biotec Ltd agreed to explore the possibility of technology transfer of its product to Laboratories Clausen S.A manufacturing facility and for subsequent marketing in Latin American markets. In return Laboratories Clausen S.A agreed to provide technology of Mycophenolate mofetil (MMF) to Panacea Biotec; where in Panacea Biotec will manufacture and market the products in few key international markets.
Both the companies agreed to explore the possibilities of collaboration on products in development.
On this development, Dr. Rajesh Jain, Joint Managing Director, Panacea Biotec Ltd said, "We are more than happy to partner with Laboratories Clausen S.A. and this agreement will help us to explore new opportunities in the Latin American markets Panacea Biotec always believe in investing in partnerships that provide human, technical and financial resources to engage and empower the community worldwide and this agreement is another milestone in our journey toward our vision 2020"
Other important delegates from the Oriental Republic of Uruguay were also present at the occasion." |
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