Panacea Biotec Ltd has come under regulatory review after the National Control of Pharmaceutical and Health Products (NCPHP) proposed halting supplies of non-vital products and cited non-compliance with Good Manufacturing Practices (GMP). However, officials clarified that no risk was observed to the quality of products already released.
Panacea Biotec Ltd, a leading pharmaceutical and biotechnology company, is facing regulatory challenges following actions taken by the National Control of Pharmaceutical and Health Products (NCPHP). The authority proposed halting the supply of non-vital products manufactured by the company, citing concerns over GMP compliance.
While the regulator highlighted lapses in adherence to GMP standards, NCPHP officials confirmed that no risk was observed to the quality of products already released in the market. Vital medicines remain unaffected, ensuring continuity of essential supplies. The development underscores the importance of strict regulatory oversight in safeguarding product safety and efficacy.
Key highlights from the announcement include
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NCPHP proposes halting supplies of non-vital products from Panacea Biotec
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Regulator cites non-compliance with GMP standards
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Vital medicines remain unaffected by the proposed action
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Officials confirm no risk to quality of products already released
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Focus remains on ensuring product safety, efficacy, and compliance with global standards
Industry experts emphasize that while the regulatory scrutiny may impact Panacea Biotec’s operations, the assurance regarding product quality helps maintain stakeholder confidence. The company is expected to address compliance concerns to restore regulatory alignment and strengthen its market position.
Sources: Reuters, Economic Times, Business Standard, Mint