New Delhi: Panacea Biotec, India’s biggest vaccine manufacturer who introduced world’s first fully liquid Pentavalent vaccine EasyFive in Jan., 2005 has pledged to support the cause of GAVI alliance by further reducing the cost of its Pentavalent Vaccine – EasyFive, to the tune of 10-15% in coming years, thereby increasing access of vaccines to more millions of children. After introduction of EasyFive in developing countries in year 2008 price of Pentavalent vaccine was brought down by 18% in 2010.  The new vaccine price reductions will help to some extent on donor support for GAVI & contribute to reducing GAVI’s funding challenge.

Announcing the commitment, Dr. Rajesh Jain, Jt. Managing Director, Panacea Biotec Ltd said – “We are very happy to extend our continued, unequivocal & unstinted support to GAVI for this noble social cause as developing countries are facing severe challenges in saving children’s lives and protecting people’s health.

The combined demand of all combination pediatric vaccines worldwide is estimated to grow up to USD 1.6 billion by 2012. Pentavalent vaccine market is estimated to cross a mark of USD 1 billion out of which UN agencies are likely to procure vaccines worth more than USD 425 million in 2011.

“Making vaccines affordable as demands grow is the only model which can create sustainable interest with Governments, Donors and other International Agencies to ensure each child is immunized from protectable disease”, said Dr. Rajesh Jain.

Panacea Biotec has a long term agreement with UNICEF to supply 75 million doses for the year 2010, 2011 and 2012.