Panacea Biotec stock spikes on $127.3-million global vaccine orders

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Shares of biotechnology firm Panacea Biotec opened at Rs 158 on the NSE and at Rs 160 on the BSE on Tuesday as against yesterday's close at Rs 134 after the company announced that it had bagged a $127.3-million contract.

The long-term order worth over Rs 1,040 crore came from UNICEF and Pan American Health Organisation for the supply of its pentavalent vaccine Easyfive-TT.

This is a five-in-one vaccine given to infants and young children for active immunisation against five severe diseases like diphtheria, haemophilus influenzae type b, hepatitis-B, pertussis, and tetanus, according to healthcare platform website 1mg.com.

The order from UNICEF is worth $98.755 million (about Rs 813 crore) for supply of 99.7 million doses during 2023 to 2027, while the $28.55 million (about Rs 235 crore) order from Pan American Health Organisation (PAHO) is for supply of 24.83 million doses in 2023 to 2025, according to a statement from the company.

This showcases the growing role India plays to support global health, Panacea Biotec Managing Director Rajesh Jain said.

EasyFive-TT is a ready-to-use vaccine that does not require preparation by healthcare workers at clinics, thereby reducing the number of visits to vaccination centres and the overall cost of immunisation for all stakeholders, the company said.