InvestorQ : Why has Panacea Biotech done so exceedingly well in the last few weeks in the stock market?
Mitali Bhutta made post

Why has Panacea Biotech done so exceedingly well in the last few weeks in the stock market?

Answer
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Dawn Cherian answered.
3 months ago


Panacea Biotech touched a 52-week high on 10 June and was also frozen in 20% upper circuit on the day. This was after it announced that it had inked a deal with US based Refana for a Covid-19 vaccine. The deal will facilitate the global development, manufacture and distribution of Covid-19 vaccine. Under the terms of the collaboration, Panacea the collaboration with Refana will be to make the COVID-19 vaccine widely available across the world. It will bring a totally inactivated virus-based vaccine for COVID-19. Panacea Biotech will be responsible for product development and commercial manufacturing. On the other hand, Refana will undertake clinical development and regulatory submissions across the globe. The marketing and distribution of the vaccine will be handled by the respective geographies. It proposes to manufacture 500 million doses of COVID-19 vaccines with 40 million doses expected to be ready for delivery by early 2021. It could come as a big boost to the anti Coronavirus effort, especially in the countries with lower per capita GDP.