Serum Institute of India CEO Adar Poonawalla on Monday sold off his entire stake in Panacea Biotec of the firm for a whopping amount of Rs 118 crore. His 5.15% shareholding of the firm was sold off through an open market transaction. The shares were picked by the Serum Institute of India (SII). Panacea Biotec is a renowned contract manufacturer in the drug industry and is involved in the production of both human and animal vaccines. Shares of Panacea Biotec on Monday ended at Rs 384.9 apiece, 1.16% higher over the previous close.

Source: dna May 18, 2021 04:18 UTC