Panacea Biotec Ltd. (PBL) is delighted to announce the collaboration with signing of two long term agreements with Serum Institute of India Pvt. Ltd. (511) and Sil's wholly owned subsidiary, Bilthovan Biologicals B.V. (BBIO). Under the collaboration 511 is entitled to manufacture & sell fully liquid Whole cell Pertussis (wP) and Salk based Injectable Polio Vaccine (IPV) based Hexavalent vaccine (DTwPHepB-Hib-IPV) developed & commercialized by Panacea Biotec, a first of its kind in this category.
Under the collaboration, broadly the following will be achieved:-
- Serum Institute of India will ensure supply of IPV bulk to Panacea Biotec, an important constituent of the Hexavalent vaccine, from its wholly owned subsidiary BBIO, a bioengineering and pharmaceutical company, registered in The Netherlands having technology and expertise for making the IPV, earlier possessed by only 3 other vaccine manufacturers in the World.
- In next 2 years both SII and PBL will work together to get this wP-IPV based Hexavalent Vaccine introduced in the National Immunization Program of Government of India and developing countries by working closely with key stakeholders including but not limited to National Governments, World Health Organization (WHO), Global Alliance for Vaccines & Immunization (GAVI), Bill and Melinda Gates Foundation (BMGF) and other United Nation Agencies, etc.
Speaking on the occasion Dr Rajesh Jain, Joint Managing Director, Panacea Biotec said that millions of children in developing countries with an annual birth cohort of approx. 121 Million will get an easy access to a fully liquid Hexavalent vaccine containing six very important antigens to protect against six dreaded diseases i.e. Diphtheria, Tetanus, Pertussis, Hepatitis B, Haemophilus influenza type B & Polio. Dr. Rajesh Jain added that it is the first fully liquid wP-IPV based hexavalent vaccine in the World which Panacea Biotec has developed making India proud under Government of India's Make in India Program and currently being marketed in India under brand name EasySix™.
WHO prequalified IPV is essential to successfully eradicating Polio across the globe, an effort that has already cost $ 20 Billion worldwide. There is a Global Polio Eradication Initiative (GPEI) in place & Global Alliance for Vaccine Initiative (GAVI) has been supporting the program since 2013 having allocated $430 Million till 2018 with an additional donor pledge of $23 Million for 2019. At present GAVI is evaluating IPV under Vaccine Investment Strategy for Global Public Good.
Global demand of IPV/ IPV containing vaccines is estimated to rise significantly from ~100 Million in the year 2020 till supply constraints remain, to 250-350 Million doses every year starting 2022 depending upon a two or three dose schedule as Strategic Advisory Group of Experts (SAGE) on Immunization in April 2017 has recommended at least 2 doses of IPV in the routine Immunization schedule of the countries post OPV withdrawal.
Here it is important to note that there has been a global supply constraint of IPV since early 2015 and only 52% of projected supply had been delivered to UN agencies as a result of which 18 Countries could not introduce IPV in their immunization & 15 had interruptions out of 70 IPV eligible countries approved for GAVI support.
A beaming Mr Adar C. Poonawalla, CE.O. & Executive Director, Serum Institute of India, said, lilt is an historic deal where in two major vaccine Companies in India have come forward to join hands to address unmet needs of both Private & Public Market globally. With the convenience of 'Six in one' it has potential of over 250 million doses in next 3-4 years with a market size of over $1.25 Billion annually."
Mr R K Suri, Senior Advisor, who orchestrated the mega deal between two big Vaccine players said, lilt marks beginning of a new Era in vaccine landscape and heralds a new business model, 'Collaborate yet Compete!'."
Shares of PANACEA BIOTEC LTD. was last trading in BSE at Rs.256.9 as compared to the previous close of Rs. 253.7. The total number of shares traded during the day was 64132 in over 1624 trades.
The stock hit an intraday high of Rs. 264.15 and intraday low of 244.55. The net turnover during the day was Rs. 16561499.