Panacea Biotec Limited, India’s 3rd largest biotech company has signed a non-exclusive marketing agreement with Laboratorios Clausen S.A, Uruguay. The agreement will give an access to Laboratorios Clausen S.A to market Panacea Biotec Limited’s “Tacrolimus” (Pangraf) in few markets in Europe.

The agreement was signed on March 3 in the presence of 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 Limited agreed to explore the possibility of technology transfer of its product to Laboratorios Clausen S A manufacturing facility and for subsequent marketing in Latin American markets. In return Laboratorios 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.

“We are more than happy to partner with Laboratorios 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,” Panacea Biotec joint managing director Dr Rajesh Jain said on the occasion.

Other important delegates from the Oriental Republic of Uruguay were also present at the occasion.