Panacea Biotec Limited has informed the Exchange about Settlement of Disputes with Apotex Inc., Canada
PANACEABIO · price
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Panacea Biotec and its wholly-owned subsidiary Panacea Biotec Pharma Limited (PBPL) have signed a Settlement Agreement on July 9, 2025, with Apotex Inc., Canada, ending two arbitration cases (ICC No. 28118/CPB and 28560) that were pending at the International Court of Arbitration, Paris. Under the deal, Apotex will pay USD 2.5 million within 30 days and another USD 2.5 million upon final USFDA approval of the ANDA for Paclitaxel Protein-Bound Particles for Injectable Suspension. The profit-share arrangement for Canada and US supply of Paclitaxel has been temporarily modified in Apotex's favour (65:35 for Canada and 60:40 for the US) until Apotex recovers specified amounts, after which it reverts to 50:50. PBPL will receive a net USD 2.0 million from the settlement, which the company says will boost profitability and cash availability for the group. The settlement applies even if the USFDA does not approve the ANDA.
Positive for the company — it removes the overhang of two international arbitrations and brings in USD 2 million in net cash, though it gives up a larger share of Paclitaxel profits to Apotex until certain thresholds are recovered. Neutral-to-mildly-positive for shareholders in the short term; long-term impact depends on USFDA approval of the ANDA.