Panacea Biotec zooms nearly 18% on USFDA nod for migraine drug

Shares of Panacea Biotec today surged nearly 18 per cent after the company inked a pact with UNICEF for supply of Pentavalent Vaccine (Easyfive-TT) in the current year and got approval from the US health regulator for migraine drug.
The stock zoomed 17.70 per cent to settle at Rs 148.60 on BSE. Intra-day, it jumped 19.92 per cent to Rs 151.40.
At NSE, it soared 16.58 per cent to Rs 148.30.
On the volume front, 4.32 lakh shares of the company were traded on BSE and over 22 lakh shares changed hands at NSE during the day.
The company has also received a notification from Pan American Health Organisation (PAHO) for purchase of Easyfive-TT vaccine in the event the agency should have any requirements through December, 31, 2019.

"Total value of this expected business from UN Agencies is worth USD 20.475 million equivalent to around Rs 140 crore based on current exchange rate," Panacea Biotec said in a statement.
Besides, the company has received approval from the US health regulator to market a generic version of Merck & Co's Maxalt-MLT tablets, used in treating migraine, in the American market.