India's Panacea Biotec soars 20% as it partners U.S. firm for potential COVID-19 vaccine

Panacea Biotec

10/06/2020 06:24

** Shares of Indian biotech firm  PNCA.NS  jump as much as
20% to a six-week high of 203.7 rupees
    ** PNCA says will partner with U.S.-based Refana Inc to make
a potential vaccine for COVID-19  urn:newsml:reuters.com:*:nL4N2DN17Q
    ** Stock sees sharpest intraday pct jump since Oct. 2017;
PNCA up ~29% YTD, vs a ~26% rise on the Nifty Pharma Index
 .NIPHARM 
    ** Collaboration aims to make more than 500 mln doses of the
vaccine candidate, with over 40 million doses expected to be
available early next year
    ** Panacea to be responsible for product development and
commercial manufacturing, with the Ireland-based joint venture
to undertake clinical development and regulatory submissions
across the world
    ** Around 830,600 shares change hands by 0519 GMT, vs 30-day
avg of 233,138 shares

 (Reporting by Chris Thomas in Bengaluru)
 ((chris.thomas@thomsonreuters.com; +91-80-6749-8695; Reuters
Messaging: chris.thomas.thomsonreuters.com@reuters.net))