Panacea Biotec Ltd said on Monday it received a financial assistance of 100 million rupees from the Department of Biotechnology, Government of India, for the development of the swine flu vaccine.
The grant has been given as a long-term loan on a concessional interest rate of 2 percent per annum and the firm has received its first installment of 30 million rupees, it said in a statement to the exchange.
The firm had earlier also been given a grant of 100 million rupees by the Ministry of Health and Welfare for development and manufacture of the same vaccine.