Panacea Biotec to set up Rs 50 Cr anti-cancer drug formulation facility in Himachal

MUMBAI (Reuters) – Panacea Biotec Ltd is to set up a 500-mln rupees anti-cancer formulation facility at Baddi n Himachal Pradesh, a top official said in a conference call on Thursday.

“This facility is expected to be operational by the end of this financial year. This facility will actually enable the company to meet the growing demand of anti-cancer products … ,” Joint Managing Director Rajesh Jain said.

The plant will have a capacity of about 1.2 million vials annually, he added.

The vaccine maker has already got licence for its H1N1 (swine flu) vaccine and would place bids for government contracts in this fiscal.

For more: Yahoo News

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