Apotex seeks $118 million from Panacea for collaboration pact breach

Canadian pharmaceutical company, Apotex Inc, is seeking $118.14 million from Panacea Biotec over a breach of a collaboration agreement signed in 2014. Apotex alleges that Panacea Biotec breached its obligations under the agreement, specifically regarding the delay in seeking approval from the US Food and Drug Administration for a product mentioned in the agreement.