Mankind Pharma completed the acquisition of Panacea Biotec Pharma formulations brands from Panacea Biotec for $251m.

Mankind Pharma, a pharmaceutical company, completed the acquisition of Panacea Biotec Pharma formulations brands from Panacea Biotec, a generic and specialty pharmaceutical and vaccine maker, for $251m. "The sale of domestic formulation brand portfolio is in line with the company's strategic plan to become debt-free and focus on exports of pharmaceutical formulations in the US and other international markets besides the vaccine business in global markets," Rajesh Jain, Panacea Biotec Managing Director.