Panacea Biotec, India's leading research based Health Management Company involved in research, manufacturing and marketing of branded pharmaceutical formulations, vaccines and natural products has been granted a patent from US Patent & Trademark Office for their product Thank God (Euphorbia Prostrata) for effective management of hemorrhoids & piles (Patent No. 7,371,412 B2).
With this, the company is looking forward to launch this product in high potential markets of US and EU. As per current industry trends, the total potential of anti-hemorrhoids & piles market in US & EU is between USD 500-600 million.
Highlighting this achievement, Mr. Rajesh Jain, JMD Panacea Biotec said, "It is certain that innovative products would achieve a stronghold worldwide, as compared to conventional products. Thank God (Euphorbia Prostrata) is an innovative, comprehensive solution for management of hemorrhoids & piles. The product is doing extremely well in the domestic market. This US patent for Thank God would offer us an excellent opportunity to enter the US and EU markets, which is an important part of our global strategy."
The Stock closed the day at Rs.314.60, down by Rs.7.65 or 2.37%. The stock hit an intraday high of Rs.336.35 and low of Rs.305.55.
The total traded quantity was 22836 compared to 2 week average of 52371.
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