Biotechnology firm Panacea Biotec jumped over 20 percent on Tuesday, October 11 after it bagged a long-term supply order worth USD 127.3 million from UNICEF and Pan American Health Organization.
During Tuesday’s trade, the stock opened at Rs. 156 against the previous close of Rs. 134 and then it surged to an intraday high of Rs. 160.80. The stock is currently trading around ₹156.95, up by 17.13 percent on the NSE at 10:20 am.
The stock touched a 52-week-high of Rs. 286 on October 13, 2021 and a 52-week-low of Rs. 125 on July 28, 2022, indicating that at the current level, the stock is trading at 25.56 percent above its 52-week low. Additionally, the stock has declined almost 20.14 percent so far this year.
On Monday, biotechnology firm Panacea Biotec said it has bagged a long-term supply order worth USD 127.3 million (over ₹1,040 crore) from UNICEF and Pan American Health Organization for supply of its pentavalent vaccine Easyfive-TT.
The order from UNICEF is worth USD 98.755 million (about ₹813 crore) for supply of 99.7 million doses during calendar years 2023-2027, Financial Express reported.
The order from Pan American Health Organization (PAHO) award is worth USD 28.55 million (about ₹235 crore) for supply of 24.83 million doses during calendar years 2023-2025. This showcases the growing role India plays to support global health, Panacea Biotec Managing Director Rajesh Jain said.
EasyFive-TT is a ready-to-use combination pentavalent vaccine that does not require preparation by healthcare workers at clinics, thereby reducing the number of visits to vaccination centres and the overall cost of immunization for all stakeholders, the company reported.
A pentavalent vaccine protects children against five deadly diseases — Diphtheria, Tetanus, Pertussis, Hepatitis B and invasive infections caused by Haemophilus Influenza Type b. It has become the foundation of paediatric immunization programmes across the world, the official report stated.
Panacea Biotec Ltd., established in 1984, is a small-cap company with a market capitalization of Rs. 820.76 crore primarily operating in the pharmaceuticals industry. The firm outperformed its five-year average of 49.44 percent by delivering ROE of 126.99 percent in the year ending March 31, 2022.
The firm reported a consolidated total income of ₹122.91 crore for the quarter ended 30-06-2022, a 15.11 percent decrease from the previous quarter total income of ₹144.78 Crore and a 9.41 percent decrease from the previous year same quarter total income of ₹135.68 crore. In the most recent quarter, the company generated net profit after tax of Rs. 56.14 crore.
Panacea Biotec is an innovation driven biotechnology company doing research and development, manufacturing, sales, distribution and marketing of pharmaceuticals, vaccines and biosimilars. The international pharmaceutical formulations product portfolio includes highly innovative prescription products in niche therapeutic areas, the company website shows.
