Panacea Biotec - Update - Inaugurates GRAND-fifth RandD Centre at Navi Mumbai

BSE - Panacea Biotec Ltd has announced that the Company has opened it's world class, state of the art - Global Research & Development (GRAND) Centre in Navi Mumbai on February 11th. The facility was inaugurated by its Chairman, Mr. Soshil Kumar Jain. This is the fifth R&D Centre which has been set up with a vision to be a Global Leader in the delivery of conventional and biotech based drugs for unmet therapeutic needs of Safety, Efficacy and Compliance involving World Class Science. The other four R&D Centres at Lalru, Delhi and Mohali, focus on Drug Delivery (Pharmaceuticals), Vaccines, Drug Discovery (Bio-pharmaceuticals) and Drug Discovery (Small Molecules). With this the combined strength of people dedicated to drive Innovation in R&D has gone up to 350. Panacea Biotec invests around 6% of it's annual turnover into Research & Development. Speaking on this occasion, Mr. Soshil Kumar Jain, Chairman, said, "We had visualized GRAND long back. It's an integral part of our long term strategy that would get us global recognition through development of Advanced Drug Delivery systems in oral, injectable, pulmonary, nasal routes of administration. At GRAND, research will be conducted in high growth therapeutic areas. Growing from strength to strength, Panacea Biotec is dedicated to improving the quality of life, by providing innovative healthcare solutions."