Panacea Biotec inaugurates new plant

MUMBAI: Pharmaceutical firm Panacea Biotec Ltd on Tuesday said it has inaugurated the Greenfield construction Vaccine Formulation Plant (VFP), which has an annual production capacity of one billion doses.

Located in Baddi, Himachal Pradesh, the plant has been commissioned with several filing lines for bacterial and viral vaccines for liquid vaccines in pre-filled syringes, liquid and lyophilised vaccines in vials, the firm said in a filing to the Bombay Stock Exchange.

"The new world class facility has been designed, constructed and approved for the production of filling lines of bacterial and vital combination vaccines. The unit will increase our production capacity of vaccines substantially in scale and size," company chairman Soshil Kumar Jain said after inaugurating the plant.

Panacea Biotec has also unveiled its new corporate identity -- a pole star with the tag-line, "Innovation In Support Of Life."

Shares of the company were trading at Rs 377, up 2.35 per cent at the BSE.