Panacea Biotec up 13 pct on US FDA nod for migraine drug

| Updated: Jan 18, 2017 16:39 IST

New Delhi [India], Jan 18 (ANI): Shares of Panacea Biotec zoomed over 13 percent intraday on Wednesday as the company received the US drug regulator's nod for a drug. The company announced receiving of its approval for Rizatripan Bonzoate tablet, which is used to treat symptoms due to migraine from the US Food and Drug Administration's (FDA). The stocks have seen a good upside, with an upward movement of over 16 percent in the last month. Late in December, the scrip had seen a 10 percent intraday jump on the back of a vaccine roll out which is used in primary immunization and as a booster dose against diphtheria, tetanus, among others. Shares of Panacea Biotec were quoting at Rs. 141.00, up Rs. 15.30, or 12.17 percent, on the BSE. It touched an intraday high of Rs. 143.60 and an intraday low of Rs. 134.20. (ANI)
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