Panacea Biotec, Apotex resolve dispute over breach of collaboration agreement
Panacea Biotec Limited has announced the settlement of the disputes forming part of the arbitration among Apotex Inc., the Company and its wholly-owned subsidiary, Panacea Biotec Pharma Limited.
"The parties have executed a Settlement Agreement on July 09, 2025, recording full and final settlement of the disputes forming part of ICC arbitration No. 28118/CPB (initiated by Apotex Inc., Canada against the Company and its wholly owned subsidiary, Panacea Biotec Pharma Limited (“PBPL”)) and ICC Arbitration No. 28560 initiated by PBPL against Apotex," Panacea stated in a BSE filing.
Pursuant to this settlement, PBPL shall receive a net amount of US$ 2.0 million from Apotex, which will enhance profitability and funds availability in PBPL and the Company as a group.
The Company had earlier notified that it had received a notification dated October 04, 2023 from the International Court of Arbitration, Paris (“ICC”) intimating that an Arbitration proceeding has commenced with respect to the Request for Arbitration filed by Apotex Inc., an entity based out in Canada for arbitration of dispute between the parties
Disclaimer: This website is primarily for healthcare professionals. The content here does not replace medical advice and should not be used as medical, diagnostic, endorsement, treatment, or prescription advice. Medical science evolves rapidly, and we strive to keep our information current. If you find any discrepancies, please contact us at corrections@medicaldialogues.in. Read our Correction Policy here. Nothing here should be used as a substitute for medical advice, diagnosis, or treatment. We do not endorse any healthcare advice that contradicts a physician's guidance. Use of this site is subject to our Terms of Use, Privacy Policy, and Advertisement Policy. For more details, read our Full Disclaimer here.
NOTE: Join us in combating medical misinformation. If you encounter a questionable health, medical, or medical education claim, email us at factcheck@medicaldialogues.in for evaluation.