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Panacea Biotec on Wednesday said the US Food and Drug Administration has approved the company’s abbreviated new drug application for rizatritan benzoate orally disintegrating tablets of 5 mg and 10 mg strengths, which is the generic equivalent of Maxalt-MLT marketed by Merck & Co. The company plans to launch the product in January-March through its distribution partner in the US, it said in an exchange filing. The tablets are indicated for acute migraine in adults and in paediatric patients and had annual sales of $60 million in the US. The company also said that it has entered into a long-term agreement with UNICEF for supply of pentavalent vaccine in 2017. It has also received a notification from Pan American Health Organization for purchase of pentavalent vaccine, should the requirement arise, through December 2019. The total expected value of orders from these UN agencies is estimated at about $20.47 million. Shares of the company hit a 52-week high at ₹151.40, but closed the day with a gain of 16.6 per cent at ₹148.30 on the NSE.
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