Panacea Biotec Ltd Share Price – NSE  /  BSE

Pharmaceuticals, Small Cap

Net profit of Panacea Biotec declined 96.75% to Rs 0.43 crore in the quarter ended December 2023 as against Rs 13.24 crore during the previous quarter ended December 2022. Sales rose 32.32% to Rs 95.23 crore in the quarter ended December 2023 as against Rs 71.97 crore during the previous quarter ended December 2022.

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Panacea Biotec will hold a meeting of the Board of Directors of the Company on 13 February 2024.

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Panacea Biotec will hold a meeting of the Board of Directors of the Company on 8 February 2024.

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EasyFourPol is the world's first fully liquid wP-IPV Pentavalent vaccine. wP-IPV Pentavalent vaccine protects children against five deadly diseases like diphtheria, tetanus, pertussis, polio, and invasive infections caused by haemophilus influenza type b.

The firm said EasyFourPol is a ready-to-use combination vaccine that does not require preparation by healthcare workers at the clinic. It leads to less vaccination and lesser shots for the child and greater comfort for the parents while ensuring better compliance for healthcare practitioners. Fewer shots also mean time saved for parents and more efficiency at points of vaccination. Additionally, it also helps reduce carbon emissions by reducing the need for vials, syringes, packaging material, and visits to vaccine administration centres.

The pharma said for healthcare practitioners who follow Indian Academy of Paediatrics' (lAP) recommended Immunisation schedule, EasyFourPol offers a credible option for booster dose. EasyFourPol has an addressable market size of Rs 51 crore in India.

Dr. Rajesh Jain, chairman and managing director of Panacea Biotec, said, We are delighted to launch EasyFourPol - another landmark in our innovative and first-in-class combination vaccine portfolio that makes vaccinations easier, benefits the child, parents, and doctors while helping the world meet UN Sustainable Development Goals. We are certain that Indian paediatricians and parents will continue to put their trust in Panacea Biotec to meet evergrowing vaccination needs through innovative solutions.

Meanwhile the company’s step-down wholly owned subsidiary, Panacea Biotec Germany GmbH has announced registration of Valganciclovir Powder for oral solution in Germany.

It competes in a €1 million market (as per IQVIA). The medication is a deoxynucleoside analogue cytomegalovirus DNA polymerase inhibitor indicated for initial and maintenance treatment of cytomegalovirus (CMV) retinitis in adult patients with acquired immunodeficiency syndrome (AIDS) and also indicated in prophylaxis of CMV disease in CMV-negative adults and children (from birth and up to 18 years of age) who have received an organ transplant from a CMV-positive donor.

Dr. Rajesh Jain, chairman and managing director of Panacea Biotec, further said, In continuation of our belief to broaden our focus while continuing our therapy focus - Valganciclovir Powder for Oral Solution is a welcome addition to our transplant portfolio in Germany. We look forward to scaling up our operations and continue to build trust with healthcare practitioners as a high-quality sustainable supplier of medicines for transplant care.

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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