Panacea Biotec is currently trading at Rs. 281.30, up by 9.60 points or 3.53% from its previous closing of Rs. 271.70 on the BSE.
The scrip opened at Rs. 278.00 and has touched a high and low of Rs. 287.00 and Rs. 278.00 respectively. So far 9801 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 364.00 on 14-Feb-2018 and a 52 week low of Rs. 129.30 on 28-Jun-2017.
Last one week high and low of the scrip stood at Rs. 287.90 and Rs. 250.45 respectively. The current market cap of the company is Rs. 1664.18 crore.
The promoters holding in the company stood at 74.07%, while Institutions and Non-Institutions held 0.12% and 25.81% respectively.
Panacea Biotec along with its partner, Apotex Inc. and Apotex Corporation (Apotex) have entered into a Settlement Agreement with Celgene Corporation, a global biopharmaceutical company in USA and its subsidiary Abraxis BioScience, LLC, for settlement of disputes regarding patents covering Abraxane drug product and the company’s Abbreviated New Drug Application (ANDA) for paclitaxel protein bound particles for injectable suspension, 100mg/vial, a generic version of Abraxane.
As part of the Settlement Agreement, Panacea Biotec and Apotex will receive a non-exclusive license under which Panacea Biotec may, through its partner Apotex, begin selling Panacea Biotec's generic version of Abraxane in the US and its territories on a mutually agreed-upon date, and also in certain jurisdictions outside of the US on a mutually agreed-upon date. The other terms of the agreement are confidential.
Panacea Biotec is a leading research based Biotechnology Company with established research, manufacturing and marketing capabilities. It is one of the largest vaccine producers and biotechnology companies in India.
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