Panacea Biotec is currently trading at Rs. 164.15, up by 9.90 points or 6.42% from its previous closing of Rs. 154.25 on the BSE.
The scrip opened at Rs. 153.00 and has touched a high and low of Rs. 174.10 and Rs. 152.00 respectively. So far 30988 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 218.95 on 22-Sep-2014 and a 52 week low of Rs. 88.60 on 30-Jan-2014.
Last one week high and low of the scrip stood at Rs. 162.25 and Rs. 153.00 respectively. The current market cap of the company is Rs. 931.01 crore.
The promoters holding in the company stood at 74.81%, while Institutions and Non-Institutions held 2.20% and 22.99% respectively.
Panacea Biotec, India's highly progressive research based health management company has entered into a strategic alliance with Apotex Inc, the largest Canadian owned Pharmaceutical company for research, development, license and supply of two drug delivery based high barrier to entry generic products for US, Canada, Australia and New Zealand.
The strategic alliance was initially established for a drug delivery based drug for which Panacea Biotec had received research fees and the product development is progressing on priority. Panacea Biotec and Apotex have now further expanded the scope of the collaboration by including a second drug delivery based product to the collaboration. Both the products have been developed using Panacea Biotec's proprietary platform nanoparticle, liposomal and microparticle drug delivery systems. The current sales of the innovator products are to the tune of about $1 billion.
Both companies intend to expand the scope of the alliance by adding new drug delivery based complex generic products to the collaboration. Panacea Biotec shall undertake product development and shall manufacture and supply the products to Apotex, while Apotex shall be responsible for regulatory affairs, Hatch Waxman litigation and commercialization activities in the territories.
Panacea Biotec is one of India’s leading research based health management companies with established research, manufacturing and marketing capabilities.
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