Panacea Biotec Secures Rs 143 Cr Order From UNICEF
‘Easy Five’, is a vaccine, which combats five infections diseases of early childhood.
Biotechnology firm Panacea Biotec has secured Rs 143 crore-contract from the United Nations Children’s Fund (UNICEF) for supplying this vaccine.
Panacea Biotec is the first Indian pharmaceutical company to get this order from UNICEF for its vaccines in fully liquid form, the company informed the Bombay Stock Exchange.
The order starts in 2008 and would continue till 2009.
Last month, Panacea Biotec got WHO’s pre-qualification for its pentavalent vaccine in fully liquid form, an essential condition for drug companies to become eligible for supplying vaccines to UN procuring agencies internationally.
The infections like Diphtheria, Tetanus and Hepatitis-B would be kept at a distance through ‘Easy Five’, which is a combination of five vaccines (pentavalent).
The company said that the UN agencies are the one who procure vaccines worth Rs 1,500 crore by 2009. The estimate would be more than Rs 4,000 crore per annum globally for these vaccines in the market.
According to the Rajesh Jain who is the Panacea Biotec Joint Managing Director "There is an urgent need to foster innovation...As the world is inching closer to the goal of eradicating dreadful diseases, especially for the early childhood, by providing effective vaccines."
The company Panacea Biotec has been a pre-qualified Supplier of OPV and Hepatitis-B vaccines to UN agencies.