Panacea Biotec, second largest vaccines producer in India, has posted net profit of Rs 72.41 crore during the year ended March 2010 as against a net loss of Rs 67.07 crore in the previous year basically due to foreign exchange gain of Rs 63.53 crore as compared to loss of Rs 175.07 crore in the last year. Its EBDITA declined by 29.6 per cent to Rs 155.25 crore from Rs 220.39 crore. The company's consolidated net sales increased by 14.2 per cent to Rs 900.15 crore from Rs 788.17 crore.
The company management recommended equity dividend of 25 per cent (Rs 0.25 per share) for the year 2009-10 as against nil in the last year. The total dividend distribution figure worked out to Rs 1.67 crore.
Panacea's vaccines sales increased by 18.9 per cent to Rs 668.74 crore from Rs 562.37 crore and that of formulations moved up by 5.7 per cent to Rs 241.73 crore from Rs 228.73 crore in the previous year. During last quarter of 2009-10, the company launched three new products namely Sitcom Cream, Thank OD Cream and Two WKS cream for the treatment of internal hemorrhoid under its Pro Care. Grow Care and Value India SBU respectively.
The company received an AMC (Advance Market Commitment) of Rs 10 crore for supply of indigenously produced Pandyflu, its vaccine against H1N1 virus. It received US FDA approval for its pharmaceutical formulation facility at Baddi in Himachal Pradesh. It is also approved by ANVISA, Brazil, TGA – Australia, Government of Upper Bavaria - Germany and regulatory agencies of other key markets like Jordan, Syria, Ukraine, Yemen, etc.