Our News Bureau – Mumbai
Panacea Biotec inaugurated its new state-of-the-art oncology facility at Baddi, Himachal Pradesh to meet the growing demand of anti-cancer products in the country. The new facility will entail an annual production capacity of around 1.2 million vials, and being set up in compliance with various international regulatory standards like cGMP, US FDA and UK MHRA. The plant has been set up with a project cost of around Rs 55 crore.
Dr Rajesh Jain, Joint Managing Director, Panacea Biotec said, “We are delighted to announce the inauguration of our new facility for manufacturing anti-cancer products. It will not only enable us to scale up production of our innovative range of anti-cancer products, but also help us to offer substantial affordable innovative medicine to consumers at large.”
Jain further added, “With this new facility, Panacea Biotec has taken another leap towards becoming one of the prominent players in anti-cancer formulation business globally. This new facility will improve our ability to develop and deliver world class affordable medicine, and will also equip us to keep pace with the growing demand for anti-cancer products globally. For certain oncology products, due to insufficient manufacturing capacity, industry consolidation, lack of redundancy and complex manufacturing process, the US market regularly faces shortages.”