Panacea Biotech jumps 8 per cent on collaboration with SII

Panacea Biotech has signed two agreements with Serum Institute of India (SII) and Bilthovan Biologicals (BBIO). Under this collaboration, SII is entitled to manufacture and sell fully liquid whole cell Pertussis (wP) and salk-based injectable polio vaccine (IPV), developed by Panacea Biotech.

Under this collaboration, SII will ensure supply of IPV bulk to Panacea Biotec, an important constituent of the hexavalent vaccine, from its wholly-owned subsidiary BBIO, a bio-engineering and pharmaceutical company registered in The Netherlands having technology and expertise for making the IPV, earlier possessed by only three other vaccine manufacturers in the world.

Here it is important to note that there has been a global supply constraint of IPV since early 2015 and only 52 per cent of projected supply had been delivered.

Panacea Biotec Limited is a leading research-based biotechnology company with established research, manufacturing and marketing capabilities. It is one of the largest vaccine producers and biotechnology companies in India.

Today, the stock opened at Rs 262.90 and touched an intra-day high of Rs 283.95, up by 8 per cent.