Panacea Biotec, a small-cap pharmaceutical company, surged 5% on December 26 to reach its upper circuit limit of ₹456.25 after securing a major order from UNICEF for the supply of 115 million doses of bivalent oral polio vaccine (bOPV) worth approximately ₹127 crore.
Shares of Panacea Biotec, a prominent biotechnology and pharmaceutical company, rallied 5% on Thursday, December 26, following the announcement of a significant contract win. The company disclosed in an exchange filing on December 24 that it had received a Letter of Award from UNICEF to supply 115 million doses of its bivalent oral polio vaccine (bOPV). The contract, valued at approximately USD 14.95 million (₹127 crore), will be executed in the calendar year 2025.
In its official statement, Panacea Biotec expressed pride in this achievement. The company said, “We are delighted to inform you that Panacea Biotec Limited has received a Letter of Award from UNICEF for the supply of 115 million doses of its bivalent oral polio vaccine (bOPV) worth ~US$ 14.95 million (~Rs.127 crore) in CY2025.”
Stock Market Performance Following the announcement, the stock of Panacea Biotec jumped by 5% to hit its upper circuit limit of ₹456.25 during the trading session. At around 10:45 AM, the stock was trading 4% higher at ₹452 per share. Notably, the stock reached its 52-week high of ₹489 on December 12, whereas its 52-week low of ₹112.70 was recorded on June 4. With this rally, the company’s market capitalization stood at ₹2,768.53 crore.
The company’s stock has been a multibagger performer in the current financial year. Over the last six months, it has surged by 225%, while delivering a year-to-date return of 167%, significantly rewarding its investors.
Financial Performance Despite the impressive stock performance, the company’s financial metrics have shown a mixed picture. For the quarter ended September 2024, Panacea Biotec reported a marginal 3% year-on-year increase in revenue from operations, reaching ₹147.35 crore compared to ₹143.02 crore in the same period last year. However, the company posted a profit after tax (PAT) of ₹4.80 crore, marking a turnaround from a loss of ₹8.37 crore in the September 2023 quarter and a loss of ₹15.80 crore in the June 2024 quarter.
About Panacea Biotec Panacea Biotec is a leading biotechnology company specializing in research and development, manufacturing, and the distribution of pharmaceuticals and vaccines. The company’s focus on innovation and high-quality vaccine production has positioned it as a key player in the global healthcare landscape.
The recent contract with UNICEF reinforces Panacea Biotec’s role in global immunization programs and strengthens its position in the vaccine market. Investors and stakeholders will keenly watch the company’s performance in the coming quarters as it works toward fulfilling the UNICEF order.
