Panacea Biotec hit an upper circuit of 5% at Rs 455.70 after the company received a letter of award (LoA) from the United Nations International Children's Emergency Fund (UNICEF) for supply its bivalent oral polio vaccine (bOPV).
The company will supply 115 million doses of bivalent oral polio vaccine (bOPV) in Africa / Asia region.The contract is worth $14.95 million (approximately Rs 127 crore). The said order will be executed by calendar year 2025, subject to signing of requisite amendment to the long term arrangement.
Panacea Biotec is engaged in the business of research, development, manufacture, and marketing of branded pharmaceutical formulations in India and international markets.
The company reported consolidated net loss of Rs 8.29 crore in Q2 FY24 as compared with net profit of Rs 15.70 crore reported in Q2 FY23. Net sales jumped 36.1% YoY to Rs 143.02 crore in Q2 FY24.
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