Panacea Biotec has entered into a tripartite agreement with Natco Pharma ('Natco') and Breckenridge Pharmaceutical Inc. ('Breckenridge') for the manufacture and supply of Azacitidine Injection for the U.S. market under Breckenridge's already-approved ANDA. Azacitidine is a generic equivalent of Vidaza®, which is marketed by Celgene Corporation, U.S.

As per the terms of the agreement, Natco has provided the technology for manufacturing Azacitidine to Panacea Biotec's facility located at Baddi, Himachal Pradesh, India. Panacea Biotec will be responsible for manufacture and supply of the product, which will be marketed, sold and distributed by Breckenridge in the U.S.

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Panacea Biotec announced that the Annual General Meeting (AGM) of the company will be held on 29 September 2018.

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Net Loss of Panacea Biotec reported to Rs 36.83 crore in the quarter ended June 2018 as against net loss of Rs 47.99 crore during the previous quarter ended June 2017. Sales declined 8.78% to Rs 95.11 crore in the quarter ended June 2018 as against Rs 104.27 crore during the previous quarter ended June 2017.

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Panacea Biotec will hold a meeting of the Board of Directors of the Company on 14 August 2018, to consider and approve the Unaudited Financial Results (Provisional) for the quarter ended 30.06.2018.

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