Panacea Biotec climbs 10 pc on new product launch

Shares of drug firm Panacea Biotec surged nearly 10 per cent today after the firm launched a new diabetes drug 'Tenepan'.

The shares jumped 9.98 per cent to end the day at Rs 127.25 on BSE, its highest in the day.

At NSE too, the stock rose 9.98 per cent to settle at Rs 126.15.

The company launched diabetes drug 'Tenepan' for the treatment of Type 2 Diabetes Mellitus.

Tenepan aims to improve accessibility of diabetes treatment at an affordable cost as part of the company's commitment to the 'Make in India' campaign, Panacea Biotec said in a regulatory filing.