The stock zoomed 11.95 per cent to settle at Rs 245.90 on the BSE. Intra-day, it jumped 15.63 per cent to Rs 254.
At the NSE, it surged 10.91 per cent to close at Rs 245.35.
The company's market valuation also went up by Rs 161.16 crore to Rs 1,506.16 crore.
In terms of volume, 1.91 lakh shares of the company were traded on the BSE and over 12 lakh shares changed hands at the NSE during the day.
"Panacea Biotec has expanded its existing collaboration with Apotex Inc, the largest Canadian-owned pharmaceutical company, for sales and distribution of Prasugrel 5mg and 10mg tablets (generic version of Eli Lilly's Effient) in the US," the company said in a BSE filing.
It further said: "The company has signed an exclusive licence and supply agreement with Apotex for this purpose. Under the terms of the agreement, Apotex shall be responsible for sales and distribution of the product in the USA and the company shall be responsible for manufacturing and supply".
Disclaimer: No Business Standard Journalist was involved in creation of this content