Panacea Biotec appeals against three Industrial Tribunal awards

Panacea Biotec has filed appeals before the Hon'ble High Court of Punjab and Haryana, Chandigarh, challenging three awards issued by the Industrial Tribunal, S.A.S. Nagar, Mohali. The company submitted these appeals on July 06, 2026, contesting the tribunal's directives regarding workmen reinstatement and compensation. The company is also preparing to file an appeal against the remaining fourth award and will update the stock exchanges in due course.

The awards, dated March 19, 2026, and received by the company on April 9, 2026, directed Panacea Biotec to set aside the transfer of 23 workmen and grant them full back wages from the date of transfer. Furthermore, the tribunal ordered a reasonable wage revision for the workmen and reinstated workers—with the exception of those who had settled the dispute—along with 50% back wages from the date of termination. These orders are applicable from 2014 onwards.

In its disclosure to the exchanges, Panacea Biotec stated that based on its legal position and opinion, it believes the awards are challengeable. The company asserted that it does not foresee any material adverse impact on its financial, operational, or other activities arising from these awards. The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The appeals follow the company's initial intimation to the exchanges on April 10, 2026, regarding the receipt of the four awards. The legal action represents the company's response to the tribunal's rulings on labor disputes involving its workforce.

Details of the Awards

S. No.	Particulars	Details
1.	Name of the Listed Entity	Panacea Biotech Limited
2.	Type of communication received	The Company has received four Awards from the Presiding Officer (in the rank of Additional District Judge) of Industrial Tribunal, S.A.S Nagar, Mohali
3.	Date of receipt of communication	9 April 2026
4.	Authority from whom communication received	Presiding Officer (in the rank of Additional District Judge) of Industrial Tribunal, S.A.S Nagar, Mohali
5.	Brief summary of the material contents of the communication received	Received the aforesaid Awards whereby the Tribunal has, inter-alia: 1. Set aside transfer of 23 workmen and granted relief of full back wages from the date of transfer; 2. Awarded reasonable wage revision for the workmen; and 3. Awarded reinstatement of the workers (other than those who have settled the dispute) with 50% back wages from the date of termination.
6.	Period for which communication would be applicable	From 2014 onwards
7.	Expected financial implications	The Company does not foresee any material adverse impact on its financial, operational, or other activities arising from these Awards.
8.	Details of any aberrations/non-compliances identified	Not Applicable
9.	Details of any penalty or restriction or sanction imposed	Not Applicable
10.	Action(s) taken by listed company	The Company has, on July 06, 2026, filed appeals before the Hon’ble High Court of Punjab and Haryana, Chandigarh, against three (3) Awards. The Company is also in the process of filing an appeal against the remaining 4th Award.

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Panacea Biotec has joined the DENSTAR project to advance the licensure of its tetravalent dengue vaccine, DengiAll, in sub-Saharan Africa and facilitate its broader global access. The four-year initiative, funded under the Global Health European & Developing Countries Clinical Trials Partnership 3 Joint Undertaking (GH EDCTP3 JU) and supported by the European Union, aims to combat Neglected Tropical Diseases and reduce the disease burden across Africa. The project is scheduled to run for 48 months starting June 1, 2026.

DENSTAR Consortium

The DENSTAR consortium unites 10 partners from nine countries, including universities, research organizations, and a biotech company. It is coordinated by the Sclavo Vaccines Association, a non-profit organization based in Italy. Panacea Biotec, the developer of DengiAll, serves as a key partner in this public-private partnership. The consortium will conduct Phase I/III studies in healthy African adults and children to confirm the vaccine's safety and efficacy. The project also seeks to address critical knowledge gaps by evaluating vaccine efficacy against Dengue Virus serotype 4 (DENV-4) using Controlled Human Infection Models (CHIMs).

DengiAll is a single-dose, live-attenuated vaccine targeting all four dengue virus serotypes, currently in late-stage development in India. The vaccine is designed to be cost-efficient to manufacture and suitable for large-scale deployment without requiring prior serological testing.

Project Details

The following table outlines the key parameters of the DENSTAR project:

Feature:	Details
Project Title:	Dengue Efficacy and Safety Trial in African Region
Acronym:	DENSTAR
Duration:	48 months from June 1, 2026
Coordinator:	Sclavo Vaccines Association ETS (Italy)
EDCTP Contribution:	€11,091,138.75
Grant Number:	101249135

Key Participants

The consortium brings together leading institutions across nine countries:

Sclavo Vaccines Association ETS (Italy)
Panacea Biotec Limited (India)
Kwame Nkrumah University of Science and Technology (Ghana)
Universitätsklinikum Heidelberg (Germany)
National Institute of Allergy and Infectious Diseases (United States)
International Vaccine Institute (Republic of Korea)
Centre de Recherches Medicales de Lambaréné (Gabon)
Instituto Nacional de Saúde (Mozambique)
Johns Hopkins University (United States)
Institut National De Recherche Biomedicale Du Zaire (Democratic Republic of the Congo)