Panacea Biotec has suffered setback during the first quarter ended June 2007 on account of stagnant sales and higher input costs. The lower interest burden also could not help the company to maintain bottom line. The net profit declined by 5.1 per cent to Rs 47.25 crore from Rs 49.76 crore in the corresponding quarter of last year. Its net sales remained almost at same level at Rs 233.43. With fall in profits, it's earning per share for the quarter declined to Rs 7.19 from Rs 8.51.
The sales of vaccines declined by five per cent to Rs 184.30 crore from Rs 193.99 crore in the similar period of last year. However, its formulation sales increased strongly by 27.3 per cent to Rs 50.11 crore from Rs 39.36 crore. Panacea has launched Fitiv Dia Nutritional biscuit (nutritional supplement for diabetic patients), GGlizid M OD tablets for type diabetes, Lower CVD capsule for cardiac prevention, Lower TG tablet for dyslipedimla, Pangraf 2.0 mg capsule for prophylaxis in organ transplant, Cefementin 100 and 50 DT tablet for acute pain and FegoHF tablet during the first quarter.