Panacea Biotec: Manjula Upadhyay ceases to be Independent Director, Chairperson/member of Committees of Board of Directors
New Delhi: Panacea Biotec Limited has announced that Manjula Upadhyay, Independent Director of the Company, has completed her second and final term of five consecutive years as Independent Director on March 29, 2025 and consequently she has ceased to be the director of the Company.
Accordingly, she has also ceased to be the Chairperson/member of the Committees of the Board of Directors of the Company. Manjula Upadhyay will however continue to be non-executive independent director of the Company’s material wholly-owned subsidiary company, Panacea Biotec Pharma Limited.
"The Board of Directors and the Management of the Company express deep appreciation and gratitude to the aforesaid director for her extensive contribution and guidance towards the business growth of the Company," Panacea informed in a BSE filing.
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In September, the U.S. Government's development finance institution, the U.S. International Development Finance Corporation (DFC), announced its commitment of a long-term loan of up to $20 million to Panacea Biotec Limited, a research-based biotechnology company in India.
Panacea Biotec is an innovation-driven Biotechnology company doing Research and Development, Manufacturing, Sales, Distribution and Marketing of Pharmaceuticals and Vaccines.
Panacea Biotec was set up in the year 1984, under the name of Panacea Drugs Private Limited. It got publically listed on Indian National Stock Exchanges in September 1995 as Panacea Biotec Ltd. The international pharmaceutical formulations product portfolio includes innovative prescription products in niche therapeutic areas such as Pain, Diabetes & Cardiovascular management, Oncology, Renal Disease, Osteoporosis management and Gastro-intestinal care.
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