Panacea Biotec Ltd has entered into a Memorandum of Agreement (MoA) with Family Vaccines, Philippines to provide access to value added combination vaccines under the umbrella of "Easy Vaccines" manufactured by Panacea Biotec, to the people in Philippines through a chain of 50 immunization clinics, run by Family Vaccines.
Panacea Biotec has been playing an imperative role in immunization through its novel and innovative, world's first fully liquid vaccine with brands such as, 'Easy Four' & 'Easy Five', for over three years. It has partnered with. WHO & UNICEF with a mission of supporting the cause of maximizing coverage of vaccines under the Expanded Programme on Immunization (EPI) for mote than a decade.
Philippines has a birth cohort of around 2.5 million with an EPI immunization coverage of about 80 per cent. At a GNI per capita at US$ 1170 and a GDP per capita at US$ 4614, Philippines has been accorded a developing country status. The global vaccine market is expected to top US$ 10 billion in 2007 and US$ 23.8 billion in 2012.
The MOA was signed between Rajesh Jain, JMD, Panacea Biotec and Jaime Enrique Gonzalez, managing director of Family Vaccines on the platform of Confederation of Indian Industries (CII) in Mumbai on October 04, 2007.
Speaking on the occasion, Rajesh Jain, JMD, Panacea Biotec says, "Panacea Biotec has built an innovative portfolio in combination vaccines under 'Easy' range of vaccines which has enabled it achieve a leadership position in just about two years of its launch in India. While fully liquid DTP combos would be the arena of focus to start the partnership with Family Vaccine, it would eventually work towards introduction of Polprotec (IPV) and its combination vaccines in due course. With a very strong, innovative product pipeline in immunization, Panacea Biotec is all set to venture into global markets".
Recently, the company has inaugurated its ultra modern, Greenfield construction, vaccine production plant at Baddi, HP, with over Rs 100 Crore (approx. US$ 25 million) investment having capacity of more than one billion doses per annum, to cater to domestic and global markets. With commissioning of this latest state-of-art facility, the total capacity to produce vaccines would be doubled to two billion doses pet annum.