16 September 2016 | Features | By BioSpectrum Bureau
BioSpectrum Ranking Survey: Rank 15: Panacea Biotec
JMD: Dr Rajesh Jain
Revenue: Rs 253 crore (Bioscience)
Panacea Biotec is the first company in the world to develop fully-liquid pentavalent vaccine Easyfive-TT (HepB-Hib-DTwP). It played a pivotal role in the eradication of polio from India and many other countries by supplying more than 10 billion doses of oral polio vaccine to Government of India and UNICEF.
It is also the first Indian company to develop generic nanoparticle-based paclitaxel 'PacliALL' for treating breast cancer and launched the product in India at ~50 percent lower cost. Granted patent in Russian Federation on a new formulation. Panacea was awarded the 'Top 50 Innovator Company of India Award' in 2016 based on its contribution in R&D and patents filings by Thomson Reuters.
Panacea's net turnover of pharmaceutical formulations business has grown at a CAGR of around 7.6 per cent from Rs 2,398.8 million in FY2009-10 to Rs 3,727.0 million in FY2015-16.
The net turnover from domestic pharmaceutical formulation business has grown at a CAGR of around 6.7 percent from Rs 2,105.9 million in FY2009-10 to Rs 3,107.3 million in FY2015-16 with diabetes and cardiology and transplantation segments being the top two therapeutic segments, contributing around 28 percent and 29 percent respectively during the year under review.
The global vaccines market was estimated at $41 billion in 2015 and is expected to grow $100 billion by 2025, growing at a CAGR of 10 percent.
At present, North America, with about a 49 percent share, is the largest vaccine market followed by Europe, with 31 percent share. However, the future demand and significant revenue for vaccines is expected to come from India, China and other emerging developing countries with sizeable birth cohort.
Clinical trials with respect to world's first patented wP-based hexavalent vaccine (Easy6) and Quadrivalent vaccine (Easy4TT) has been successfully completed. In accordance with 'Global Switch with respect to Polio, Comparative Monovalent OPV1 (or mOPV1)/bOPV/IPV Clinical Trial Protocol was successfully submitted by Panacea to DCGI, in collaboration with WHO.
The company has already developed 10-valent Pneumococcal Conjugate Vaccine (Nucovac).
Sampann drug delivery centre is also supporting the development of new generation vaccines like Pneumococcal Conjugate Vaccine 10-valent (Nucovac) and Dengue tetravalent vaccine, Easyfour-Pol and Easysix vaccine, Sabin-Inactivated Polio vaccine (S-IPV), Tetanus vaccine, indigenous Pentavalent vaccine, Japanese Encephalitis (JE) vaccine and Measles vaccine.
Panacea focuses on R&D of generics and NDDS technologies such as depot injections, oral modified release, SMEDDS in soft gels, MD tablets, critical dose drugs and biotherapeutics.
Novel Dengue Vaccine (LATV) Phase I/II Protocol & Pneumococcal Vaccine (10 Valent, Conjugate Vaccine) Phase III Clinical Protocols have been approved by DCGI. These studies are slated to begin in the near future.
During the year, Panacea has launched India's first indigenously developed brand CABAPAN, a brand of cabazitaxel, at one-fifth of the innovator's price, thereby bringing a paradigm change in the treatment of metastatic Castration Resistant Prostrate Cancer (mCRPC).
The company is now in the process of expanding its exports business with focus on the large regulated markets and emerging markets. As part of this, the company has already filed 6 ANDAs with the USFDA and is working on 2 more ANDAs to be filed in 2017.
The Indian vaccine industry is estimated to be around $1 billion. The market is expected to further expand as the Indian Government has included Injectable Polio Vaccine (IPV) in its Universal Immunization Program. The vaccine industry is expected to grow at a CAGR of 15% over the next five years.