Panacea Biotec announced that a minor fire incident took place on 29 December 2020 in a technical engineering floor in one of the air handling unit of the soft gelatin manufacturing block in thePharmaceutical Formulations Facility of the Company's wholly owned subsidiary company Panacea Biotec Pharma (PBPL) at Baddi.

The fire incidence was brought under control with the help of the fire control systems installedin the plant and the fire control department of the State Government of Himachal Pradesh.There is no loss or injury to human life or damages of property due to this incidence exceptdamages to some equipments and stocks which got wet due to water used in dousing the fire.PBPL has adequate insurance coverage for such loss and has informed the insurance companyabout this incident.

While there is no impact on the operations at this plant, however as a precautionary measure,PBPL has stopped the production in the said Soft Gelatin Manufacturing Block which is likelyto resume in a weeks' time after the affected area is restored.

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A minor fire incident took place on 29 December 2020 in a technical engineering floor in one of the air handling unit of the soft gelatin manufacturing block in the pharmaceutical formulations facility of Panacea Biotec's wholly owned subsidiary, Panacea Biotec Pharma at Baddi in Himachal Pradesh.

The fire incidence was brought under control with the help of the fire control systems installed in the plant and the fire control department of the State Government of Himachal Pradesh. The facility has adequate insurance coverage for such loss and has informed the insurance company about this incident.

There is no impact on the operations at this plant. However as a precautionary measure, Panacea Biotec Pharma has stopped the production in the said soft gelatin manufacturing block which is likely to resume in a weeks' time after the affected area is restored.

Panacea Biotec is an innovation-led biotechnology group that focuses on discovery, development, and commercialisation of prescription medicines.

On a consolidated basis, Panacea Biotec reported a net loss of Rs 19.33 crore in Q2 September 2020 as compared to a net loss of Rs 75 crore in Q2 September 2019. Net sales surged 45.4% to Rs 182.02 crore in Q2 September 2020 over Q2 September 2019.

Shares of Panacea Biotec were up 2.33% at Rs 235.40. It traded in the range of 228.40 and 240 so far during the day.

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Panacea Biotec announced that the Annual General Meeting (AGM) of the company will be held on 24 December 2020.

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Net Loss of Panacea Biotec reported to Rs 19.33 crore in the quarter ended September 2020 as against net loss of Rs 75.00 crore during the previous quarter ended September 2019. Sales rose 45.41% to Rs 182.02 crore in the quarter ended September 2020 as against Rs 125.18 crore during the previous quarter ended September 2019.

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