Drugmaker Panacea Biotec has unveiled in the Canadian market Paclitaxel Protein-Bound Particles for Injectable Suspension (Albumin-Bound), which is indicated for therapy of metastatic breast cancer, non-small cell lung cancer and adenocarcinoma of the pancreas.
The product is a generic version of Bristol- Myers Squibb Company subsidiary Abraxis BioScience’s Abraxane. It is the primary generic launch of Abraxane in Canada and launched by wholly owned subsidiary Panacea Biotec Pharma via strategic companion Apotex Inc. of Canada. The market measurement of Abraxane in Canada is $26.4 million, Panacea stated citing IQVIA CDH transferring annual whole for September 2023.
Under a collaboration settlement with Apotex Inc. for analysis, improvement, license, provide and sale of the product in the U.S., Canada, Australia and New Zealand, Panacea Biotec had undertaken R&D and manufacturing of the product at its pharmaceutical formulations facility in Baddi, Himachal Pradesh. Apotex Inc. will undertake the advertising, gross sales and distribution in the Canadian market.
EOM
