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Our Bureau

New Delhi, Jan. 18

Panacea Biotec has posted a net profit of Rs 27.1 crore for the third quarter ended December 31, 2006, up from Rs 5.19 crore posted during the same period of the previous year. The vaccine maker's net turnover increased by 79 per cent to Rs 197.12 crore (Rs 110.03 crore). Turnover from vaccines nearly doubled to Rs 150.72 crore.

Operating profit was up 133 per cent at Rs 48.8 crore. For the nine months ended December 31, 2006, Panacea's net profit grew by150 per cent to Rs 123.4 crore (Rs 49.4 crore) while turnover rose by 49 per cent to Rs 611.22 crore (Rs 410.5 crore). During the quarter the company launched several new drugs and also made an investment of Rs 16.85 crore to acquire a 10 per cent stake in UK based Cambridge Biostability Ltd.

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