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Panacea Biotec shines on receiving USFDA’s approval for Azacitidine Injection

Panacea Biotec is currently trading at Rs. 203.30, up by 11.30 points or 5.89% from its previous closing of Rs. 192.00 on the BSE.

The scrip opened at Rs. 203.00 and has touched a high and low of Rs. 209.80 and Rs. 201.55 respectively.

The BSE group ‘B’ stock of face value Rs. 1 has touched a 52 week high of Rs. 287.90 on 12-Jun-2018 and a 52 week low of Rs. 138.20 on 06-Dec-2018.

Last one week high and low of the scrip stood at Rs. 209.80 and Rs. 179.00 respectively. The current market cap of the company is Rs. 1176.01 crore.

The promoters holding in the company stood at 73.59%, while Institutions and Non-Institutions held 1.46% and 24.95% respectively.

Panacea Biotec has received United States Food & Drug Administration (USFDA) approval for manufacture and supply of Azacitidine Injection, 100 mg/vial, for the US market. Panacea Biotec’s state-of-the-art pharmaceutical formulation facility at Baddi is already approved by National Regulatory Authority (NRA) of India and USFDA for other oral solids and injectable products.

Azacitidine is a chemotherapy drug used to treat myelodysplastic syndromes (MDS) with annual sales of about $110 million in US markets as per IQVIA data as of December, 2018.

Panacea Biotec 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.

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