India's Panacea Biotec rises on settlement deal with Celgene

Panacea Biotec

18/06/2018 05:34

** Shares of Panacea Biotec Ltd  PNCA.NS  rise as much as
5.2 pct to 287.2 rupees - highest since June 12
    ** Stock on track to gain for a third straight session
    ** More than 88,000 shares traded, versus their 30-day
moving avg of 72,774 shares
    ** Co, Apotex enter into patent dispute settlement agreement
with Celgene Corp  CELG.O   urn:newsml:reuters.com:*:nFWN1TH09V
    ** As part of the agreement, Panacea Biotec will get a
non-exclusive licence under which Panacea Biotec may, through
its partner Apotex, begin selling Panacea's generic version of
Abraxane in the United States and its territories 
    ** Stock has risen 12.3 pct this year up to Friday's close

 ((Reuters Messaging:
vishal.sridhar.thomsonreuters.com@reuters.net))