Panacea Biotec Limited, a key player in India's pharmaceutical and vaccine industry, has received an additional order worth approximately USD 5.2 million (around INR 44 crore) from UNICEF for the supply of 40 million doses of its bivalent oral polio vaccine (bOPV). This major development marks a continuation and expansion of Panacea's collaboration with the United Nations International Children's Emergency Fund and reflects the company's growing global presence in the vaccine supply chain.

This announcement, dated April 23, 2025, follows an earlier disclosure made by the company on December 24, 2024, in which it had informed the exchanges of receiving a USD 14.95 million order for 115 million doses of bOPV from UNICEF. The current award is in addition to the previous order, underscoring the consistency and reliability of Panacea Biotec’s vaccine manufacturing capabilities.

According to the disclosure submitted to both the National Stock Exchange (NSE) and the BSE, the newly awarded contract will be executed in the third quarter of the calendar year 2025 (Q3 CY2025). The product—bOPV—will be supplied in the form of 2 million vials, comprising 40 million doses, as per the agreement.

The existing Long Term Arrangement (LTA) between Panacea Biotec and UNICEF will be amended to incorporate the new award. In keeping with UNICEF’s transparency policy, details such as the supplier’s name, vaccine type, duration, and award value will be publicly disclosed on the UNICEF website. This includes a breakdown of prices per supplier per product presentation per year.

This development is particularly significant as it not only enhances Panacea Biotec’s order book but also signals a vote of confidence from a globally reputed health organization like UNICEF. The award further cements Panacea’s status as a trusted partner for large-scale vaccine programs, particularly in combating polio, a disease the global community is striving to eradicate through sustained immunization drives.

The company clarified that the order has been awarded by an international entity, and the contract does not fall under related party transactions. Furthermore, it has confirmed that no promoter, promoter group, or group companies of Panacea Biotec have any vested interest in UNICEF, reinforcing the independence and arm’s length nature of the transaction.

With a robust infrastructure and decades of experience in vaccine development, Panacea Biotec has consistently contributed to global public health goals. The company’s manufacturing facilities adhere to WHO-GMP standards, and its products are exported to several countries, which positions it favorably for future international tenders and contracts.

The bivalent oral polio vaccine (bOPV), which contains two serotypes of the poliovirus (type 1 and 3), is a critical component of the global polio eradication strategy. UNICEF, which procures vaccines on behalf of governments and NGOs worldwide, plays a pivotal role in ensuring the equitable distribution of vaccines to underdeveloped and developing nations.

The financial significance of this new contract—approximately INR 44 crore—is likely to reflect positively in the company’s financials for the fiscal year ending March 2026. This aligns with Panacea Biotec’s strategy to strengthen its presence in the global immunization space and deliver sustainable value to its shareholders.

This deal comes at a time when international health agencies are reinforcing immunization programs amid post-pandemic recovery phases, particularly focusing on routine vaccinations which were disrupted during the COVID-19 crisis. By securing another substantial contract, Panacea Biotec positions itself as a reliable player in the global health ecosystem.

Looking ahead, Panacea is expected to continue leveraging its R&D capabilities, WHO prequalified products, and strategic partnerships to grow its exports business. The company is also investing in expanding its product portfolio, including other vaccines and biologics, to meet evolving global health needs.

In conclusion, this additional UNICEF award of USD 5.2 million for the supply of bOPV in Q3 CY2025 serves as a testament to Panacea Biotec’s manufacturing excellence, product quality, and global reputation. As one of India’s key pharmaceutical exporters, Panacea continues to contribute significantly to the international public health agenda, reinforcing India’s role as the “pharmacy of the world.”

This disclosure was signed by Vinod Goel, Group CFO and Head Legal & Company Secretary, reaffirming the company's commitment to transparency, regulatory compliance, and timely investor communication.

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