Panacea Biotec to acquire Power Gummies

Pharma major Panacea Biotec Pharma Limited is set to acquire nutraceutical brand Power Gummies, according to sources aware of the matter.

“The transaction is close to being finalized. Panacea Biotec will acquire the entire stake in Power Gummies, including its patents and trademarks,” said one of the sources. The person requested anonymity.

Regulatory filings reviewed by Entrackr show that the company is divesting certain assets to Panacea Biotec Pharma Limited, with the proceeds earmarked primarily for debt repayment.

Founded in 2018, Power Gummies…