Indian Firm Panacea Partners With US Company to Make COVID Vaccine
The collaborative aim is to create more than 500 million doses of the vaccine.
Indian firm Panacea Biotec Ltd. and US-based Refana Inc. will be joining hands to produce and distribute a potential vaccine for COVID-19, according to a Livemint report.
Panacea Biotec will be liable for product development and commercial manufacturing of an inactivated virus-based vaccine, the Indian firm announced in an exchange filing.
“Whole inactivated viral vaccines have a higher probability of being safe and efficacious, given their long history and a better understanding of their mechanism of action, which has been elucidated over many decades. This vaccine has the potential to become the vaccine of choice for the global fight against COVID-19.”Rajesh Jain, Managing Director, Panacea Biotec
The collaborative aim is to create more than 500 million doses of the vaccine, along with 40 million doses awaited to be available by next year, Livemint quoted Jain.
Clinical development would be undertaken by the joint venture and regulatory submissions will be made globally. Panacea Biotec and Refana will undertake sales and distribution of the vaccine after the regulatory approval in their own territories.
As of now, about 130 vaccines are under development stages, out of which 10 are under clinical trials.
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