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Panacea Biotec shares locked in 5% upper circuit; here's what to know
Shares of Panacea Biotec surged to hit a 5 per cent circuit on Thursday's session after it received an additional order from the UNICEF for the supply of 40 million doses of its bivalent oral polio vaccine worth $5.20 million (₹44 crore).
The pharmaceutical company's stock rose as much as 5 per cent during the day to hit an upper circuit of ₹538.55 per share. The stock trades near its all-time high of ₹549 per share, which it hit on April 21 this year.
The company's shares are up 3 per cent this week and have recovered over 85 per cent from their lows of ₹290, which it hit in late February. The stock has risen 28 per cent this year, compared to a 2.6 per cent advance in the benchmark Nifty50. The company has a total market capitalisation of ₹3,300.8 crore, according to BSE data.
In an exchange filing on Wednesday, it said that the company received an additional award from United Nations Children's Fund (UNICEF) for the supply of 40 million doses of its bivalent oral polio vaccine, valued at approximately US$5.20 million (around Rs 44 crore), for delivery in the third quarter of calendar year 2025. This comes after the company has already received orders from UNICEF for the supply of 115 million doses of its bivalent oral polio vaccine worth $14.95 million (~Rs.127 Crore) in this calendar year.
About Panacea Biotec
Panacea Biotec is an Indian biotechnology and pharmaceutical company specialising in the research, development, and manufacturing of vaccines, biologics, and pharmaceutical formulations. Established in 1984, the company is known for its innovative healthcare solutions, particularly in the areas of immunisation and life-saving therapeutics.
Panacea Biotec has developed vaccines for diseases including polio, tetanus, and hepatitis, and collaborates with global organisations such as the WHO, UNICEF, and Gavi to distribute its vaccines worldwide. In addition to vaccines, its pharmaceutical portfolio covers therapies for oncology, organ transplantation, diabetes, and cardiovascular conditions. With a strong focus on research and cutting-edge technology, Panacea Biotec aims to address critical healthcare needs globally.
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