Panacea Biotec secures Rs 143 cr order from UNICEF

Biotechnology firm Panacea Biotec today said it has secured a Rs 143 crore-contract from the United Nations Children's Fund (UNICEF) for supplying vaccine 'EasyFive', which combats five infectious diseases of early childhood.     

Panacea Biotec is the first Indian firm to receive this order from UNICEF for its vaccines in fully liquid form, the company said in a filing to the Bombay Stock Exchange.     

The order commences this year and would continue till 2009, it said.     

Last month, Panacea Biotec had received WHO's pre-qualification for its pentavalent vaccine in fully liquid form — a necessary condition for drug companies to become eligible for supplying vaccines to UN procuring agencies globally.     

'EasyFive' is a combination of five vaccines (pentavalent), providing protection against infectious diseases including Diphtheria, Tetanus and Hepatitis-B.     

The market for this vaccine is estimated to be over Rs 4,000 crore per annum globally, of which UN agencies alone are likely to procure vaccines worth Rs 1,500 crore by 2009, the company said.     

"There is an urgent need to foster innovation...As the world is inching closer to the goal of eradicating dreadful diseases, especially for the early childhood, by providing effective vaccines," Panacea Biotec Joint Managing Director Rajesh Jain said.     

Panacea Biotec is already a pre-qualified supplier of OPV and Hepatitis-B vaccines to UN agencies.     

Shares of Panacea Biotec were trading at Rs 313.50, up 3.16 per cent in the afternoon trade on the BSE.