Research Head (MONEY MAKER
RESEARCH & INVESTMENT ADVISOR PVT LTD) is having a view that one
can go long in PANACEA BIOTECH.
“PANACEA BIOTECH is looking
bullish on Daily Charts & Bullish crossover in MACD and strong
reading at ADX shows strong trend, therefore I recommend traders to
go long around 266 with a price target of around 276 & Stop loss
should be placed below 251”
The company has product
portfolio that caters therapeutics areas like pain management,
diabetes and cardiovascular management, renal disease management,
osteoporosis management, anti-tubercular, gastro-intestinal. Panacea
Biotec is the third largest biotechnology company (as per ABLE
Survey, 2006), as well as among the top 50 pharmaceutical companies
(as per ORG IMS July 2006) of India. The company has been granted
patents across countries like USA, U.K., France, Germany, Italy,
Sweden, Denmark, Spain, Finland, Switzerland, The Netherlands, New
Zealand, Mexico, Brazil, Nigeria, Zimbabwe, Australia, South Africa,
Japan, Russia, Canada, Ukraine, Korea and China are among others.
The company expanded its
existing collaboration with Apotex Inc, the largest Canadian-owned
pharmaceutical company, for sales & distribution of Prasugrel 5mg
and 10mg tablets in the USA.
It has signed an exclusive
license and supply agreement with Apotex for this purpose.
Stock has been gaining for the
last 3 days and has risen 29.05% in the period