1. Panacea Biotec shares surge 10% on launch of diabetes drug

Panacea Biotec shares surge 10% on launch of diabetes drug

Panacea Biotec locked in upper circuit of 10 per cent on Tuesday after the company informed bourses that it has introduced indigenously developed high quality antidiabetic drug

By: | New Delhi | Published: June 28, 2016 2:00 PM
panacea biotec stocks in news Panacea Biotec locked in upper circuit of 10 per cent on Tuesday after the company informed bourses that it has introduced indigenously developed high quality antidiabetic drug (Reuters)

Panacea Biotec locked in upper circuit of 10 per cent on Tuesday after the company informed bourses that it has introduced indigenously developed high quality antidiabetic drug, TENEPAN (Teneligliptin), for treatment of Type 2 Diabetes Mellitus.

Shares of the company jumped 9.98 per cent to Rs 127.25 on Wednesday on BSE. The scrip opened at Rs 117.65 and has touched a high and low of Rs 127.25 and Rs 116.10, respectively, in trade.

On NSE, the scrip jumped 9.98 per cent to Rs 126.15.

The company in a BSE filing said, “TENEPAN (Teneligliptin) aims to improve accessibility of this treatment for the benefit of patients at an affordable cost as part of our commitment to Government of India’s “Make In India” mission.”

For the quarter ended March 31, 2016, Panacea Biotech reported net profit of Rs 72.15 crore against net loss of Rs 31.39 crore in the corresponding quarter a year ago. The company is the third largest biotechnology firm in India.

Since the beginning of the ongoing financial year, shares of the company jumped 23.74 per cent to Rs 115.70 on June 27 from Rs 93.50 on April 1.

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  1. Lindsey Lindsey
    Jun 28, 2016 at 2:52 pm
    I hope launch more good diabetes drugs. In July of 2015. it was discovered that I got type 2 diabetes, By the end of the July month. I was given a prescription for the Metformin, I stated with the ADA diet and followed it completely for several weeks but was unable to get my blood sugar below 140, Without results to how for my hard work. I really panicked and called my doctor. His response?? Deal with it yourself, I started to feel that something wasn’t right and do my own research, Then I found Rachel’s great blog (google " HOW I FREED MYSELF FROM THE DIABETES " ) .. I read it from cover to cover and I started with the diet and by the next morning. my blood sugar was 100, Since then. I get a fasting reading between the mid 70s and 80s, My doctor was very surprised at the results that. the next week. he took me off the Metformin drug, I lost 30 pounds in my first month and lost more than 6 inches off my waist and I’m able to work out twice a day while still having lots of energy. The truth is that we can get off the drugs and help myself by trying natural methods..
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