Panacea Biotech announces collaboration with NVI
New Delhi, May 3 (UNI) Targeting the polio vaccine market of more than 1 bn dollars, panacea Biotech Ltd (PBL) today announced collaboration with NVI under which PBL will manufacture and market finished Inactivated Polio Vaccine (IPV) from bulk IPV supplied by NVI.
''This vaccine from Nederlands Vaccine Institute (NVI) can be combined with other vaccines as part of the general immunisation programme after the target of polio free world is achieved and will prepare us for the boom in the polio vaccine market that is expected by 2011,'' Joint Managing Director of Panacea, Rajesh Jain said.
''The cost of one dose of the vaccine will be about 5 dollar in the international market and it has to be administered thrice, first in the 3rd month, next in 12th month and finally in the 15th month.
PBL will register the products in India and across the globe barring Netherlands, Denmark, Norway and Finland,'' Mr Jain added.
''The IPV developed by Dr Jonas Salk has been administered in Netherlands in combination with other vaccines for over 30 years,'' General Director of NVI Thijs Veerman said.
''The NVI has played a major role in large scale production of inactivated Salk polio vaccine. We are pleased with the co-operation with Panacea Biotech, thus widening out contribution to human health care,'' he added.
Mr Jain pointed out that the estimated demand of IPV at present is around 150 million doses and is likely to increase to 800 million doses by 2011 and that PVL would introducing this vaccine within the next three years.
Asked whether it would be cost effective he said that with the global demand more than the supply the question of cost effectiveness does not arise.
PBL is one of India's major research based health management companies with established research, manufacturing and marketing capabilities.
It's product portfolios include areas such as pain management, diabetes management, cardiovascular management, renal diseases management, osteoporosis management, antitubercular, gastro-intestinal care products and vaccines.
Mr Jain said that they have plans to go into more such collaborations in areas of other vaccines as well.
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