The announcement was made after market hours on Wednesday, 17 August 2011.

Meanwhile, the BSE Sensex was down 111.31 points, or 0.70%, to 16,723.18.

On BSE, 13,512 shares were traded in the counter as against an average daily volume of 10,375 shares in the past one quarter.

The stock hit a high of Rs 183.85 and a low of Rs 175.05 so far during the day. The stock had hit a 52-week low of Rs 150 on 8 August 2011. The stock had hit a 52-week high of Rs 227.40 on 20 October 2010.

The stock had outperformed the market over the past one month until 17 August 2011, rising 7.64% compared with the Sensex's 9.27% fall. The scrip had also outperformed the market in past one quarter, falling 0.90% as against 7.15% decline in the Sensex.

The mid-cap pharmaceutical company has an equity capital of Rs 6.12 crore. Face value per share is Re 1.

The company's diphtheria-pertussis-tetanus based combination of two vaccines and another hepatitis B vaccine are the three vaccines that have been removed from the list, Panacea said in a statement. The World Health Organization (WHO) has, however, observed that current batches that have already been distributed are safe and will not be recalled, Panacea said. The company has initiated corrective measures, the company statement added.

Panacea Biotec's net profit fell 48.6% to Rs 16.72 crore on 13% decline in net sales to Rs 220.99 crore in Q1 June 2011 over Q1 June 2010.

Panacea Biotec is a pharmaceutical company. It has production facilities at Baddi (Himachal Pradesh), Larlu (Punjab) and Delhi for manufacturing tablets, capsules, ointments, herbal formulations and vaccines. The company's product portfolio includes prescription products in therapeutic areas like pain management, diabetes and cardiovascular management, oncology, renal disease management, osteoporosis management, anti-tubercular and gastro-intestinal care products.