Panacea Biotec surges 10% on collaboration with Serum Institute of India

The stock surges 10% to Rs 284 after the company signed two long term agreements with Serum Institute of India and its wholly owned subsidiary, Bilthovan Biologicals BV

Panacea Biotec surged 10% to Rs 284 on BSE in intra-day trade after the company announced the collaboration with signing of two long term agreements with Serum Institute of India(SII) and SII's wholly owned subsidiary, Bilthovan Biologicals BV (BBIO).

Under the collaboration, SII is entitled to manufacture & sell fully liquid Whole cell Pertussis (wP) and Salk based Injectable Polio Vaccine (IPV) based Hexavalent vaccine (DTwP-HepB-Hib-IPV) developed & commercialized by Panacea Biotec, a first of its kind in this category.

“Serum Institute of India will ensure supply of IPV bulk to Panacea Biotec, an important constituent of the Hexavalent vaccine, from its wholly owned subsidiary BBIO, a bioengineering and pharmaceutical company, registered in The Netherlands having technology and expertise for making the IPV, earlier possessed by only 3 other vaccine manufacturers in the World,” the company said in a press release.

In next 2 years both SII and PBL will work together to get this wP-IPV based Hexavalent Vaccine introduced in the National Immunization Program of Government of India and developing countries by working closely with key stakeholders including but not limited to National Governments, World Health Organization (WHO), Global Alliance for Vaccines & Immunization (GAVI), Bill and Melinda GatesFoundation (BMGF) and other United Nation Agencies, etc, it added.

At 11:30 AM; the stock was up 8% at Rs 277 on BSE, as compared to 0.96% rise in the S&P BSE Sensex. The trading volumes on the counter more than doubled with a combined 1.02 million shares changed hands on BSE and NSE so far.