The shares of one of the leading biotechnology company gained up to 2 percent after the company launched EasyFourPol and received registration of Valganciclovir Powder for Oral Solution in Germany.
On Thursday, the company shares closed at Rs 162.85 per share, a 2.31 percent decrease over its previous close of Rs 166.70 per share. Panacea Biotec Ltd has a market capitalization of Rs 997.47 crores.
As stated in the exchange filing, Panacea Biotec Ltd.’s step-down wholly-owned subsidiary Panacea Biotec Germany GmbH registered Valganciclovir Powder for Oral Solution and introduced EasyFourPol in Germany.
Moreover, EasyFourPol is the first fully liquid wP-IPV Pentavalent vaccine in the world. The wP-IPV Pentavalent vaccine shields kids from polio, tetanus, pertussis, diphtheria, and invasive infections brought on by Haemophilus influenza type b.
Additionally, EasyFourPol provides a reliable option for a booster dose for medical professionals who adhere to the Indian Academy of Pediatrics (lAP) recommended Immunization schedule. In India, the addressable market size of EasyFourPol is Rs 51 crore.
Looking into the company’s performance revenue increased by 36 percent from Rs 105 Crore in Q2FY23 to Rs 143 Crore in Q2FY24. During the same period, net profit decreased by 152 percent from a profit of R15.7 crore to a loss of Rs 8.29 Crore.
PBPL is consistently submitting new product registration documents to both established and emerging markets to boost and expand its exports going forward. The USFDA is currently reviewing the Abbreviated New Drug Applications (ANDA) that were filed under section 505(j) of the Federal Food, Drug & Cosmetics Act.
The company’s manufacturing facility can currently produce six tons of product per day. PBPL first introduced sugar-free pediatric nutrition products in 100 Indian territories in June 2023 under the brands ChilRunfullTM, and ChilRun 7+.
Panacea Biotec is a research-based biotechnology company that manufactures, distributes, and markets pharmaceuticals, vaccines, and biosimilars in addition to conducting research and development.
Written by:- Abhishek Singh
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
