Date:25/11/2004 URL: http://www.thehindubusinessline.com/2004/11/25/stories/2004112501750300.htm

Back Panacea ties up with Chiron

Our Bureau

Mumbai , Nov. 24

THE New Delhi-based Panacea Biotec Ltd has entered into a joint-venture with the UK-based Chiron Vaccines to provide new generation combination vaccines.

Chiron Panacea Vaccines, the 50:50 joint-venture company, will get operationalised on a seed capital of $1 million that has been invested by both companies, said Mr Rajesh Jain, Joint Managing Director, Panacea Biotec.

Speaking at the launch of the venture, he said that the company would kick-off with an initial portfolio of vaccines, at prices that were competitive.

"We are not saying that the vaccines will be cheap, but it will be a comprehensive combination vaccine portfolio from a single company and we are adopting a differentiation strategy to increase market-share," he said. The product portfolio largely targets the private practitioners and the vaccines will be manufactured by Panacea at it's plants in India.