Panacea Biotec Ltd is to set up a Rs 50cr anti-cancer formulation facility at Baddi in Himachal Pradesh. It’s expected that facility will start its work from the end of this financial year. The plant will have a capacity of about 1.2 million vials annually.

The vaccine maker has already got licence for its H1N1 (swine flu) vaccine and would place bids for government contracts in this fiscal.