MUMBAI : Shares of Panacea Biotec surged 20% on Wednesday -- hitting the upper circuit at ₹202.80 apiece on BSE -- after the company announced collaboration with US firm Refana for development, manufacturing and distribution of coronavirus vaccine.From the beginning of the year, Panacea shares gained 53.93% to ₹202.80 against a fall of 17.37% in the the benchmark index Sensex.
From the March lows the stock gained 125.33%, whereas Sensex gained 15.99%.“Panacea Biotec under the collaboration, is advancing its response to address the unprecedented challenges of covid-19 with Refana Inc.