Panacea Biotec shares shoot up 13% on US FDA approval for migraine drug

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Published: January 18, 2017 11:56:49 AM

Panacea Biotec shares touched an intraday high of Rs 143.60 and an intraday low of Rs 134.20.

panacea biotech - USFDA approval - migraine drugPanacea Biotec shares touched an intraday high of Rs 143.60 and an intraday low of Rs 134.20.

Panacea Biotec shares shot up as much as over 13% today morning on the news of the drugmaker getting the US regulator’s approval for making a migraine drug. The Indian drugmaker’s shares were trading up at 10.74% at Rs 139.2 on BSE after paring some gains on profit booking.

The benchmark indices were trading firm, with the BSE Sensex up 0.52% at 27,375.97 points and NSE Nifty up 0.57% at 8,445.75 points.

Earlier, Panacea Biotec said it has received the United States Food and Drug Administration’s approval for its Rizatripan Bonzoate tablet, which is used to treat symptoms due to migraine.

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Shares of Panacea Biotec have 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 shares touched an intraday high of Rs 143.60 and an intraday low of Rs 134.20.

 

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