Why Panacea Biotec shares were locked in 5% upper circuit on Thursday?

Panacea Biotec shares hit a 5 per cent upper circuit at Rs 456.25 per share on BSE in Thursday's trade. The buying in the stock came after the company received a letter of award from UNICEF for the supply of 115 million doses of its bivalent oral polio vaccine (bOPV) worth $14.95 million (Rs 127 crore) in CY2025.

 

Around 9:39 AM, Panacea Biotec Ltd share price was up 4.99 per cent at Rs 456.25 per share on BSE. In comparison, the BSE Sensex was up 0.39 per cent at 78,776.58. The market capitalisation of the company stood at Rs 2,794.57 crore. The 52-week high of the stock stood at Rs 489 per share and the 52-week low stood at Rs 112.7 per share.

 

As per the company's filing, the United Nations International Children's Emergency Fund (UNICEF) awarded the company to supply 115 million doses of bivalent oral polio vaccine (bOPV) in Africa/Asia region as per the orders as may be received from time to time. The vaccine will be supplied to regions in the calendar year 2025. 

 

UNICEF focuses on areas such as health, nutrition, education, clean water, sanitation, and child protection. It relies on voluntary contributions from governments and donors to fund its programs. 

 

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.

 

The company has developed vaccines for diseases such as polio, tetanus, and hepatitis, and has partnered with global organizations like WHO, UNICEF, and Gavi to supply vaccines worldwide. Its pharmaceutical portfolio also includes treatments for oncology, organ transplantation, diabetes, and cardiovascular diseases. With a strong focus on research and cutting-edge technology, Panacea Biotec aims to address critical healthcare needs globally.

 

In the past one year, Panacea Biotec shares have gained 162.7 per cent against Sensex's rise of 10 per cent.