With very few suppliers in the vaccination market, this creates an opportunity for India’s leading vaccine developer – Panacea Biotec Limited.
Panacea Biotec is a leading manufacturer of pediatric vaccines and has played a pivotal role in eradication of Poliomyelitis from India and many other countries, being one of the largest suppliers of oral polio vaccines to UNICEF, the Government of India and other developing countries.
Financial Results:
Panacea Biotec Limited’s revenue in Q3FY23 fell 26% to ₹ 11,520 lakhs. Consolidated Profit After Tax came at ₹ 1,937 lakhs in Q3FY23. In this quarter’s results, the reports suggested that the firm has reported decreased revenues and the reason for the increased profitability is the income received from Exceptional Items.