Panacea Biotec
Panacea Biotec Limited is a New Delhi-based vaccine manufacturer, WHO-prequalified and US FDA-approved, supplying bivalent oral polio, hexavalent, and DTaP vaccines to UNICEF and India's Central Medical Services Society across 145+ countries, with an indigenous tetravalent dengue vaccine candidate (DengiAll) in Phase III trials.
- Company typePublic
- Founded1994
- HeadquartersNew Delhi, India
- Headcount1,001–5,000
- GTM typeB2B
- OfferingHardware or Manufacturing
What Panacea Biotec does
Panacea Biotec Limited is an Indian pharmaceutical and biotechnology company headquartered in New Delhi, founded in 1994, specializing in vaccine development and manufacturing. The company operates as a WHO-prequalified and US FDA-approved manufacturer with a presence in more than 145 countries, producing vaccines on a B2G model that supplies government immunization programs and international health agencies. Its core technology portfolio is built on NIH-licensed live attenuated tetravalent strains, hexavalent combination vaccine platforms, and bivalent oral polio vaccine production. The flagship pipeline asset is DengiAll, India's first indigenous single-dose tetravalent dengue vaccine candidate, currently in Phase III clinical trials with 10,335 participants enrolled across 20 sites in collaboration with ICMR and developed from research dating to 2006.
The company's commercial product portfolio centers on bivalent oral polio vaccines (bOPV) targeting Poliovirus types 1 and 3, hexavalent vaccines combining six antigens (diphtheria, tetanus, pertussis, hepatitis B, Haemophilus influenzae type b, and polio), and diphtheria-tetanus vaccines for adults and adolescents. Revenue is generated almost exclusively through government procurement channels and international development organizations, with named customers including UNICEF (USD 35.65 million four-year supply agreement for bOPV, April 2026 to March 2030) and India's Central Medical Services Society (Rs 127.2 crore for bOPV plus Rs 20.79 crore for DTaP). The company employs 1,001-5,000 staff and is publicly listed on the Bombay Stock Exchange with a market capitalization of approximately Rs 2,668 crore as of January 2026.
Panacea Biotec's go-to-market is anchored on long-cycle institutional tenders rather than commercial sales, with go-to-market channels including enterprise sales to government procurement agencies, channel partnerships through UN agency supply arrangements, and co-development relationships with research institutions. Capacity expansion is funded in part by a USD 20 million loan from the US International Development Finance Corporation for hexavalent production scaling. The company reports FY2026 losses with negative retained earnings of Rs 217.82 crore at the standalone level, though group retained earnings remained positive at Rs 776.05 crore. A wholly-owned subsidiary, Panacea Biotec Pharma Ltd, handles Paclitaxel supply for Canada and USA markets under a settlement-modified arrangement with Apotex Inc.
Panacea Biotec firmographics
Firmographics- Name
- Panacea Biotec
- Legal name
- Panacea Biotec Limited
- Website
- https://panacea-biotec.com
- Company type
- Public
- Founded year
- 1994
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- Panacea Biotec Limited is a New Delhi-based vaccine manufacturer, WHO-prequalified and US FDA-approved, supplying bivalent oral polio, hexavalent, and DTaP vaccines to UNICEF and India's Central Medical Services Society across 145+ countries, with an indigenous tetravalent dengue vaccine candidate (DengiAll) in Phase III trials.
- Ownership category
- akta.pro rank
Panacea Biotec industry classification
Industry- Product category
- Vaccine Manufacturing
- NAICS
- Biological Product (except Diagnostic) Manufacturing (325414)
- SIC
- Biological Products, (No Disgnostic Substances) (2836)
- akta.pro primary industry
- Prophylactic Human Vaccines (routine, pediatric, adult) (HLAAAEAA)
- akta.pro secondary industries
- Infectious Disease & Pandemic Preparedness Vaccines (emerging pathogens) (HLAAAEAC), Vaccine Technology Platforms (mRNA, viral vector, protein subunit, inactivated/live-attenuated, VLP, DNA) (HLAAAEAD), Clinical Development & Regulatory for Vaccines (trials, pharmacovigilance, lot release) (HLAAAEAK)
Keywords
Where Panacea Biotec is headquartered
LocationHeadquarters
- HQ city
- New Delhi
- HQ country
- India
- HQ region
- Asia
Offices1 record
Markets served
Panacea Biotec business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Personnel, Operations, Technology or R&D, Supply Chain, Infrastructure
Revenue model
- Government Vaccine Supply Contracts: Panacea Biotec generates revenue through large-scale supply contracts with government agencies and public health organizations. Contracts include Rs 127.2 crore for oral polio vaccines and Rs 20.79 crore for DTaP vaccines for adults and adolescents, with delivery schedules spanning multiple years.
- UNICEF International Supply Agreements: Four-year supply agreement with UNICEF for bivalent oral polio vaccines worth USD 35.65 million (approximately Rs 315 crore), running from April 2026 through March 2030, representing significant international validation of manufacturing capabilities.
- Hexavalent Vaccine Production: Revenue from expanded hexavalent vaccine production capacity funded by $20 million loan from US DFC, targeting global demand for childhood immunization through supply to UN agencies.
- Licensing and Settlement Revenue: Settlement with Apotex Inc. resulted in net USD 2 million payment to Panacea Biotec Pharma Ltd, modifying profit-sharing arrangements for Paclitaxel supply in Canada and USA.
Go-to-market motion3 records
Distribution channels3 records
Marketing channels1 record
Panacea Biotec product offering
Product offeringCore offering
Panacea Biotec develops and manufactures vaccines including an indigenous tetravalent dengue vaccine candidate (DengiAll), bivalent oral polio vaccines (bOPV), hexavalent combination vaccines, and diphtheria-tetanus vaccines for adults and adolescents. The company is a WHO-prequalified and US FDA-approved pharmaceutical manufacturer that supplies vaccines to government immunization programs and UN agencies such as UNICEF across more than 145 countries.
Product overview
Panacea Biotec is a pharmaceutical and biotechnology company specializing in vaccine manufacturing. The company's product portfolio centers on life-saving vaccines including DengiAll (an indigenous tetravalent dengue vaccine in Phase III trials), hexavalent vaccines, diphtheria and tetanus vaccines, and bivalent oral polio vaccines. The company operates as a WHO-prequalified, US FDA-approved manufacturer supplying vaccines across more than 145 countries, with significant government contracts from India's Central Medical Services Society and international supply agreements with UNICEF. The products reflect a unified focus on immunobiologicals for global public health immunization programs.
Differentiator
Problem solved
Functional benefit
Brands
- DengiAll: India's first indigenous single-dose tetravalent dengue vaccine candidate developed in collaboration with ICMR and US NIH. Phase III trials completed enrollment with 10,335 participants.
- Diphtheria and Tetanus Vaccine for Adults and Adolescents
Products and services
- DengiAll Dengue Vaccine India's first indigenous single-dose tetravalent dengue vaccine candidate targeting all four dengue virus serotypes (DENV-1 through DENV-4). Based on NIH-licensed live attenuated tetravalent strain technology and developed in collaboration with the Indian Council of Medical Research (ICMR). Currently in Phase III clinical trials targeting dengue-endemic regions.
- Hexavalent Vaccine Multi-component combination vaccine providing protection against six childhood diseases: diphtheria, tetanus, pertussis, hepatitis B, Haemophilus influenzae type b (Hib), and polio. Designed for pediatric immunization programs to reduce injection burden and improve compliance.
- Bivalent Oral Polio Vaccines (bOPV)
Quantifiable outcome
- 77-82% seroconversion across all four dengue serotypes in early-stage trials
- +2 more outcomes
Companies that use Panacea Biotec
Customer profileNamed customers4 records
Segments3 records
Ideal customer profiles3 records
Panacea Biotec technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Panacea Biotec partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core and minor.
- Indian Council of Medical Research (ICMR)coreICMR and Panacea Biotec announced that enrolment for Phase III clinical trials of DengiAll is nearly complete at approximately 8,000 of the targeted 10,000 participants across 20 centres in India. ICMR provides primary funding for the trials which will follow participants for two years.
- US National Institutes of Health (NIH)coreDengiAll is based on a strain originally developed by the US National Institutes of Health (National Institute of Allergy and Infectious Diseases), with Panacea Biotec holding a process patent for the vaccine development work.
- Sclavo Vaccines AssociationcoreDENSTAR is a four-year initiative coordinated by Sclavo Vaccines Association to advance regulatory approval of DengiAll in sub-Saharan Africa. Funded under EDCTP3 Joint Undertaking (EU), the project unites 10 partners from 9 countries across Europe, Africa, US, India, and South Korea.
- UNICEFcorePanacea Biotec received a four-year supply order from UNICEF for bivalent oral polio vaccines worth USD 35.65 million (approximately Rs 315 crore). The agreement runs from April 2026 through March 2030, with vaccines delivered in 10 and 20 vial presentations.
- Apotex Inc.minorPanacea Biotec and Apotex settled ICC arbitration disputes. Panacea Biotec Pharma Ltd (PBPL) will receive net USD 2 million from Apotex, with modified profit-sharing arrangements for Paclitaxel supply in Canada and USA. Original dispute began October 2023 when Apotex claimed USD 118.14 million for alleged breach of 2014 collaboration agreement.
Scale indicators9 records
Recent moves6 records
Expansion highlights5 records
Panacea Biotec competitors and assessment
Company assessmentDirect peers
- Serum Institute of India: World's largest vaccine manufacturer by doses; produces polio, hexavalent, and other routine pediatric vaccines for WHO/UNICEF supply - the most direct competitor to Panacea in UN-procured vaccine tenders.
- Bharat Biotech: Indian vaccine manufacturer developing novel vaccines including an indigenous dengue candidate (Phase III) and supplying polio, rotavirus, and rabies vaccines to government and global immunization programs - directly comparable to Panacea on technology platform and customer base.
- Biological E. Limited: Hyderabad-based WHO-prequalified vaccine manufacturer producing DTaP, hexavalent combination vaccines, and other pediatric immunizations for UNICEF and government procurement - directly competes with Panacea on combination vaccines and tenders.
- Takeda (Qdenga): Takeda's Qdenga dengue vaccine was approved in India in July 2026, directly competing with Panacea's DengiAll candidate and establishing first-mover advantage in the Indian dengue market.
- Sanofi Pasteur (Dengvaxia): Sanofi's Dengvaxia is the first approved dengue vaccine globally; competes in tetravalent dengue space and also overlaps broadly with Panacea as a major pediatric vaccine manufacturer with WHO-prequalified status.
Broad incumbents
- GSK Vaccines: Major global vaccine manufacturer producing DTaP-containing combination vaccines, polio vaccines, and a wide pediatric portfolio; competes in routine immunization tenders as a broad incumbent.
Regional players
- Indian Immunologicals Limited: Indian vaccine manufacturer (subsidiary of National Dairy Development Board) producing pediatric and animal vaccines for domestic supply - regionally comparable vaccine producer focused on Indian market.
Emerging players
- Zydus Cadila (Vaccine Division): Indian pharmaceutical company with vaccine operations including measles-rubella and other pediatric vaccines competing in domestic government tenders alongside Panacea.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Panacea Biotec social profiles
Digital presencePanacea Biotec compliance and trust
Trust signalCompliance2 records
Panacea Biotec financial estimates
Financial estimateRevenue estimate
Valuation estimate
Panacea Biotec leadership team
Management profileNumber of profiles
Profiles1 record
Panacea Biotec subsidiaries and ownership
Company hierarchySubsidiaries1 record
Panacea Biotec funding detail
Funding detailFunding overview
Funding rounds3 records
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Panacea Biotec M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Panacea Biotec
What does Panacea Biotec do?
Panacea Biotec develops and manufactures vaccines including an indigenous tetravalent dengue vaccine candidate (DengiAll), bivalent oral polio vaccines (bOPV), hexavalent combination vaccines, and diphtheria-tetanus vaccines for adults and adolescents. The company is a WHO-prequalified and US FDA-approved pharmaceutical manufacturer that supplies vaccines to government immunization programs and UN agencies such as UNICEF across more than 145 countries.
Is Panacea Biotec a public or private company?
Panacea Biotec is a public company. It is classified as public and is currently operating.
When was Panacea Biotec founded?
Panacea Biotec was founded in 1994. It employs 1,001 to 5,000 people.
Where is Panacea Biotec based?
Panacea Biotec is headquartered in New Delhi, India, in the Asia region.
How does Panacea Biotec make money?
Four revenue lines are on record. Government Vaccine Supply Contracts are the primary driver. The others are UNICEF International Supply Agreements, hexavalent Vaccine Production and licensing and Settlement Revenue.
Who are Panacea Biotec's main competitors?
Direct peers on record are Serum Institute of India, Bharat Biotech, Biological E. Limited, Takeda (Qdenga) and Sanofi Pasteur (Dengvaxia). GSK Vaccines is listed as a broad incumbent. Indian Immunologicals Limited is listed as a regional player. Zydus Cadila (Vaccine Division) is listed as an emerging player.
Does Panacea Biotec have an API?
No public API is recorded for Panacea Biotec.
What industry is Panacea Biotec in?
Panacea Biotec's product category is Vaccine Manufacturing. Its primary akta.pro industry code is HLAAAEAA, Prophylactic Human Vaccines (routine, pediatric, adult), with a secondary code of HLAAAEAC, Infectious Disease & Pandemic Preparedness Vaccines (emerging pathogens). Its NAICS code is 325414 and its SIC code is 2836.