Panacea Biotec Share price

Panacea Biotec Ltd. was incorporated as a private limited company in the name and style of Panacea Drugs Private Ltd. on 2nd February 1984. Subsequently the Company became deemed Public limited Company u/s 43A(1 A) of the Companies Act 1956 w.e.f. 30.6.93. The shareholders of the Company in Extra Ordinary General Meeting passed a special resolution on 26.7.93 for deleting the Registration Clause from Articles of Association of the Company u/s 3(1) (iii) of the Companies Act 1956 and as such Company became full fledge public limited Company within the meaning of Section 3 (1) iv) of the Companies Act. Thereafterer the name of the Company hanged to Panacea Biotec Limited on 7th September 1993.The Company has been promoted by Mr. Sosh Kumar Jain who is a pharmacist having about 40 years of experience in the pharmaceutical industry.The Company started its operations in the year 1985 by identifying and importing a group of life saving drugs which were not available in the country for acute diseases like cancer haemophilia cardiac diseases infertility etc. These drugs were imported at an economical price andmade available through a distribution network of stockists all over the country. Having made a significant presence in the markat and after understanding the scope of the product and the latest trend in the medical field the Company made plans to set up its own manufacturing unit in 1989 and thereafter established a marketing team with an already existing distribution network for promotion of ethicalformulations.The promotors of the Company also happened to be the artners in another group company - Radicura Pharma engaged in he line of business of vaccines. Having established its marketing strength in both the group companies i.e. Vaccine Division as well as Pharma marketing the Company decided to make a single entity by merging both the unitsin the year 1992. The company is now utilising the strength of the products and marketing team of both the unit for better performance in the coming years. The Company continue to manufacture the Vaccines under Radicura Pharma with the after now functioning as a division of the Company.The Company started its Export promotion in 1991-92 when product registration in different countries was initiated. During 1993-94 the Comapny exported products worth Rs. 1.00 Crore.Presently the Company is engaged in 4 product lines of Pharmaceuticals. These are :- a) Vaccines b) Biologicals c) formulations d) Natural ProductsThe ethical formulations being promoted is on an all India basis. The Company has a significant presence in different therapeutic Groups. The company has a well established marketing network with dealers spread all over the country. The Company now proposes to expand the capacity of Vaccines Division along with an expansion in the capacities of capsules and suspensions.The company has achieved consistent improvement in rating terms of retail chemist sales out of top 200 Companies in India (Source: ORG Retail Sales Rating) out of companies promoting products ethically.Year March 1993 March 1994Rating 187 153Out of 200 200