Panacea Biotec Chairman Soshil Kumar passes away at age of 89

According to a regulatory filing by the company, Jain (89), who had been admitted to the Medanta Hospital for the last ten days, suffered a cardiac arrest on Friday afternoon.

Informing BSE about his demise, Panacea Biotec said, "Soshil Kumar Jain's sudden and unexpected passing away will be an irreparable loss to the company."

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The directors and employees convey deep sympathy, sorrow, and condolences to his bereaved family members, it added.

Soshil Kumar was a Qualified Pharmacist. He was also a director of PanEra Biotec Pvt. Ltd., Neophar Alipro Ltd., Adveta Power Pvt. Ltd. (formerly known as Advaita Power Ventures Pvt. Ltd.) and White Pigeon Estate Pvt. Ltd.

The patriarch of promoter family of Panacea Biotec Ltd, Jain had founded the company in 1984 as Panacea Drugs Pvt Ltd, and when the company was publicly listed on the Indian stock exchanges in September 1995, its name changed to Panacea Biotec Ltd. It is among the major vaccine manufacturing companies in the country.

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