Panacea Biotec is currently trading at Rs. 141.65, up by 6.80 points or 5.04% from its previous closing of Rs. 134.85 on the BSE.
The scrip opened at Rs. 134.80 and has touched a high and low of Rs. 148.00 and Rs. 134.70 respectively. So far 31,000 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 178.30 on 27-Jan-2017 and a 52 week low of Rs. 103.00 on 21-Nov-2016.
Last one week high and low of the scrip stood at Rs. 148.00 and Rs. 134.00 respectively. The current market cap of the company is Rs. 867.62 crore.
The promoters holding in the company stood at 74.60%, while Institutions and Non-Institutions held 0.08% and 25.32% respectively.
Panacea Biotec has entered into joint collaboration for Development, License, Manufacturing, Supply and Sales of 7 complex generic pharmaceutical products with Bionpharma Inc., a generic pharmaceutical company based in the United States. The joint collaboration is established for research, development and manufacturing activities for commercialization of 7 Abbreviated New Drug Applications (ANDAs), which are currently under development at Panacea Biotec, representing a total estimated market potential of more than $800 million.
Under the collaboration, Panacea Biotec will be responsible for development, filing, registration, manufacturing & supply of these ANDAs, while Bionpharma Inc. will be responsible for importation, warehousing, sales and distribution of these ANDAs in the United States and its territories. Under this joint collaboration, both companies intend to expand the scope of their alliance by adding new products to the collaboration from time to time.
Panacea Biotec is a leading biotechnology company with established research, manufacturing and marketing capabilities. It is one of the largest vaccine producers and leading Biotechnology Companies in India.
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