Panacea Biotec Ltd on Wednesday said it has received pre-qualification accreditation from the World Health Organisation (WHO) for the supply of recombinant Hepatitis B vaccine to UN agencies.
Hepatitis B immunization strategies help to prevent chronic Hepatitis-B virus (HBV) infection and its serious consequences, including liver cirrhosis and hepatocellular cancer, the company informed the Bombay Stock Exchange.
The overall estimated market for Hepatitis-B vaccine and its combinations as per UNICEF and PAHO for year 2007 is around 158 million doses, which is estimated to go up to 185 million doses in 2008 and 888 million doses in 2009.
In terms of revenues, it would amount to around $270 million in 2007, going up to $390 million in 2008 and $1 billion in 2009, it said.
"There has been constant growth in Panacea Biotec revenue due to strong vaccine sales and our inclusion in the list of pre-qualified suppliers of WHO will significantly enhance our presence in this segment, resulting in better sales volumes and profitability," Panacea Biotech Joint Managing Director Rajesh Jain said.
The company's shares were trading at Rs 335, up 1.55 per cent at the BSE.