Swiss drugmaker Novartis’ subsidiary Chiron has snapped the eight-year-old joint venture formed with Delhi-based Panacea BiotecBSE to develop and market paediatric vaccines, a move that comes as NovartisBSE plans to go it alone in this business.

“Novartis wants to own the entire vaccine business and helm it on its own,” a person familiar with the matter said on the condition of anonymity. Both Novartis and Panacea did not respond to email queries sent by ET.

Chiron Panacea Vaccines Pvt Ltd, the 50:50 JV, was focused on selling the pentavalent vaccines used in the immunisation of kids. At the time of the announcement of the JV, which was signed in 2004, both the companies had planned to invest $100 million (about Rs 650 crore at current rates) into the company.

In 2010, Novartis acquired Chiron from its other joint venture partner, AventisBSE, consolidating its ownership in the company.

Analysts say Panacea Biotec, which is still recovering from a ban imposed by the World Health Organisation and is solely dependent on vaccine sales, may have to find another partner to push its business.

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