Panacea Biotec secures pentavalent vaccine contract worth USD 127 Mn

By Garima Soni  | Date: 2022-10-12

Panacea Biotec secures pentavalent vaccine contract worth USD 127 Mn

Vaccine manufacturer, Panacea Biotec Ltd., has recently announced that Pan American Health Organization (PAHO) and United Nations International Childrens Emergency Fund (UNICEF) have reportedly approved a long-term supply agreement worth USD 127.30 million to distribute its pre-qualified pentavalent shot called Easyfive-TT, from World Health Organization (WHO).

From 2023 to 2027, PAHO will give a grant worth USD 28.55 million to provide a total of 24.83 million doses and UNICEF will offer USD 99 million grant to facilitate the provision of 99.70 million doses. For those unaware, in India Easyfive-TT was launched in 2005. Over 150 million doses have been provided to 75 countries all around the world since receiving prequalification from WHO in 2008.

EasyFive-TT is a ready-to-use combination vaccine that decreases the number of visits to vaccination centers, lowers the overall cost of immunization for all parties involved, and does not require clinical staff to prepare it.

The vaccination protects kids against five lethal diseases, including Tetanus, Diphtheria, Hepatitis B, Pertussis, and invasive infections brought on by Haemophilus Influenza Type B.

The Sustainable Development Goals (SDG) made by United Nations aimed at lowering the mortality rate of the under-five age group to less than 25 per 1000 live births.

It is worth noting that on a year-to-date basis, the companys shares have fallen more than 20%, while over the past year, they have fallen approximately 45%.

However, following orders worth USD 127 Mn from UNICEF and the Pan American Health Organization, Panacea Biotec Limiteds shares increased by 20%.

For those unaware, Panacea Biotec specializes in pharmaceuticals and biotechnology. This business has organically expanded to rank among the biggest vaccine producers in India. It has a long history of involvement with pharmaceutical formulation, research & development, vaccine development, and marketing, as well as the production of biosimilars and natural goods.

About Author

Garima Soni

Garima Soni

Despite starting her career in science, Garima always had a zeal for writing. She started out her writer journey as a freelancer which eventually turned into a full-time job. Now as an upcoming MBA professional, Garima pens down articles for BonafideNews and several o...

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