Panacea Biotec rose 1.61% to Rs 107.20 at 12:16 IST on BSE after the firm received Establishment Inspection Report from USFDA for its oncology parenteral and oral solids dosage formulation facilities at Baddi in Himachal Pradesh.
The announcement was made during market hours today, 21 November 2016.Meanwhile, the S&P BSE Sensex was down 320.28 points or 1.22% at 25,829.96.
On BSE, so far 31,000 shares were traded in the counter as against average daily volume of 13,801 shares in the past one quarter. The stock high of Rs 113.15 and a low of Rs 103 so far during the day. The stock had hit a 52-week high of Rs 171.20 on 4 December 2015. The stock had hit a 52-week low of Rs 83.90 on 12 February 2016. The stock had outperformed the market over the past one month till 18 November 2016, sliding 4.52% compared with 6.78% fall in the Sensex. The scrip had also outperformed the market in past one quarter, declining 4.09% as against Sensex's 7.02% fall.
The small-cap company has equity capital of Rs 6.13 crore. Face value per share is Rs 1.
Panacea Biotec has state-of-the-art pharmaceutical formulation facility located at Baddi for oral solids and oncology parenteral formulations. The company has been supplying products in US markets for approved abbreviated new drug applications (ANDAs) manufactured in oral solids dosage facility. A number of ANDAs submitted by the company, referring these facilities, are also at various stages of approval by the United States Food and Drug Administration (USFDA).
Panacea Biotec reported net loss of Rs 11.84 crore in Q2 September 2016, lower than net loss of Rs 17 crore in Q2 September 2015. Net sales declined 18.3% to Rs 131.56 crore in Q2 September 2016 over Q2 September 2015.
Panacea Biotec is one of India's leading research based health management companies with established research, manufacturing and marketing capabilities. It is one of the largest vaccine producers in India and is one of the leading biotechnology companies.
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