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Panacea Biotec surges 20% on pact with US firm Refana for Covid-19 vaccine

The stock is trading close to its 52-week high level of Rs 210.60, touched on April 28, 2020

The government is now trying to understand how long it will take before the drug’s production can start in India
premium

The collaboration aims to bring to patients a whole inactivated virus-based vaccine for Covid19

SI Reporter Mumbai
Shares of Panacea Biotec were frozen in 20 per cent upper circuit at Rs 203 on the BSE on Wednesday after the company said it has inked a pact with US firm Refana for Covid-19 vaccine. The collaboration will enable global development, manufacturing and distribution of the Covid-19 vaccine.

The stock is trading close to its 52-week high level of Rs 210.60, touched on April 28, 2020. Till 10:44 am; a combined around 860,000 shares changed hands and there were pending buy orders for 210,000 shares on the NSE and BSE.

“Under the collaboration, Panacea Biotec is advancing