Panacea Biotec up 13% on US FDA nod for migraine drug
US FDA gave a clearance to the company's drug Rizatripan Bonzoate
tablet, which is used to treat symptoms due to migraine.
| Shares of Panacea Biotec zoomed over 13 percent intraday on Wednesday as the company received
the US drug regulator’s nod for a drug.
The company got the US Food and Drug Administration’s (FDA) approval for
Rizatripan Bonzoate tablet, which is used to treat symptoms due to
migraine.
The company also entered a long term agreement with UNICEF for suplying
Pentavalent vaccine.
The stock has seen a good upside, with an upward movement of over 16% in
the last month. Late in December, the scrip had seen a 10% intraday jump on the back of a vaccine roll out which is used in primary immunisation and as a booster dose against diphtheria, tetanus, among
others. Panacea Biotec was quoting at Rs 141.00, up Rs 15.30, or
12.17 percent, on the BSE. It touched an intraday high of Rs 143.60 and
an intraday low of Rs 134.20
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