Panacea Biotec is continues its upward rally and locked upper circuit of 10% at Rs 130 on the Bombay Stock Exchange.
The stock has zoomed 74% in past four trading sessions from Rs 74.50 after India's second largest vaccine manufacturer has entered into a strategic partnership with Osmotica Pharmaceuticals.
“The alliance is to research, develop and manufacture drug delivery-based, high barrier to entry generic and branded pharmaceutical products in the US and key strategic markets,” Panacea Biotec said in a filing.
Panacea shall receive a fixed research fee from Osmotica besides receiving 50% share of development costs for every new market and product added.
A combined 974,078 shares have changed hands on the counter so far and there are pending buy orders for 86,771 shares on the NSE and BSE at 1223 hours.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app