Panacea Biotec Wins ₹127 Crore UNICEF Deal to Supply Polio Vaccines

27 Dec 2024 , 05:23 PM

Panacea Biotec has reached one of its milestones by recently winning the contract from UNICEF to procure 115 million doses of bivalent oral polio vaccine (bOPV) in 2025, valued at ₹127 crore, roughly $14.95 million.

Such a contract symbolizes Panacea Biotec’s continued commitment toward global health by contributing its share of Panacea Biotec has reached one of its milestones by recently winning the contract from UNICEF to procure 115 million doses of bivalent oral polio vaccine (bOPV) in 2025 fight against polio, a deadly disease prevalent in many pockets of the world.

A lot can be said about the contribution bivalent oral polio vaccine bOPV makes to eradicate poliovirus types 1 and 3. Widely used by countries both during immunization programs as well as responding to outbreak phases, it has saved untold numbers of lives around the globe.

Maintaining absolute transparency while complying with all necessary regulations, the company publicized this news under the aegis of SEBI, henceforth further strengthening credibility.

On the financial front, the company has reported loss of ₹15.8 crore, which is in stark contrast to the ₹10.98 crore profit it had noted for the same period a year ago.

Revenue declined by 15.2% compared to last quarter, reflecting a really challenging business environment. The company made some progress with respect to short-term expenditure management as Selling, General & Administrative costs declined 2.42% from last quarter. However, these costs rose by 4.25% year-over-year, and so operational costs are still a cause for concern in the long run.

This blend of successes and setbacks is a testament to resilience. While Panacea Biotec is making waves worldwide, it continues to battle financial and operational challenges with grit. The company’s commitment to immunization and global health speaks to a purpose that goes beyond the numbers—better health outcomes for communities around the world.