Panacea Biotec secures Rs143 crore UNICEF order for `EasyFive' vaccine

Mumbai: Close on the heels of receiving WHO pre-qualification in July, biotechnology firm Panacea Biotec has secured a Rs143-crore ($34.2 million) contract from the United Nations Children's Fund (UNICEF) for supplying Pentavalent vaccine, (EasyFive), which combats five early childhood infectious diseases.

Panacea has received an award notification for supply of its Pentavalent vaccine  for years 2008 and 2009.

EasyFive, the world's first fully liquid pentavalent vaccine introduced in India, is a combination of five vaccines, providing protection against infectious diseases, including Diphtheria, Tetanus and Hepatitis-B.    

The vaccine is estimated to have a market of over Rs4,000 crore ($1 billion) globally, of which UN agencies alone are likely to procure vaccines worth Rs1,500 crore ($38 million) by 2009, the company said.    

The central government also has plans to include pentavalent vaccines in its expanded programme of immunisation, the company said in a release.

The introduction of EasyFive will help improve vaccination rates and make parents more willing to let children get all the shots they need in one visit, rather than scheduling multiple appointments, the company said in a release

''There is an urgent need to foster innovation for the developing countries as the world is inching closer to the goal of eradicating dreadful diseases, especially for the early childhood, by providing effective vaccines. Immunization can prevent a million deaths. We at Panacea Biotec are partners with agencies worldwide to accelerate and spearhead a wide spectrum of technological innovations to develop vaccines that meet the unique needs of low-resource countries. We take this opportunity to thank entire team in Panacea Biotec, investors, shareholders, customers, suppliers and partners who have supported us to move from strength to size in becoming a truly global innovative company from India.'' said  Rajesh Jain, joint managing director, Panacea Biotec.

Panacea Biotec has introduced innovative immunisation programmes through the world's first fully liquid vaccine with brands such as, 'EasyFour' Nd 'EasyFive', for over 3 years.

Panacea Biotec is one of India's leading research-based health management companies and the second largest vaccine producer in India. Panacea Biotec has been ranked as the 3rd largest biotechnology company (ABLE Survey 2008) and is also amongst the top 50 pharmaceutical companies in India.

The product portfolio of the company includes biopharmaceuticals and prescription products in important therapeutic areas such as pain management, diabetes management, renal-disease management, anti-osteoporosis, anti-tubercular, gastro-intestinal care products.