Panacea Biotec has announced a significant enhancement to its vaccine supply contract with UNICEF, marking a major development for the pharmaceutical company's international operations. The contract amendment includes both value increases to existing awards and an additional new award for vaccine supply.

Contract Amendment Details

UNICEF has amended its contract with Panacea Biotec for the supply of WHO pre-qualified fully liquid Pentavalent vaccine, Easyfive-TT (DTwP-HepB-Hib). The amendment encompasses three key components across the 2026-2027 period.

Award Value Adjustments

The contract modifications include substantial increases to existing award values. For 2026, the contract value increases from $14.25 million to $16.80 million. In 2027, the value rises from $12.48 million to $15.18 million, alongside the additional $3.68 million award for Easyfive-TT supply.

Regulatory Disclosure

Panacea Biotec disclosed this development under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure follows the company's earlier communication from October 10, 2022, regarding the initial UNICEF Letter of Award for supplies during calendar years 2023-2027.

Strategic Impact

This contract amendment reinforces UNICEF's confidence in Panacea Biotec's vaccine manufacturing capabilities and supply chain reliability. The total enhancement of $8.93 million (₹80 crore) represents a significant addition to the company's international vaccine supply revenue stream, providing enhanced visibility for the pharmaceutical company's operations through 2027.

Panacea Biotec Limited , a prominent player in the pharmaceutical industry, has announced significant changes in its key management personnel following the resignation of CFO Devender Gupta. The company's Board of Directors has approved new appointments to ensure continuity in financial and corporate governance functions.

Key Management Appointments

The Board of Directors, in its meeting held on December 15, 2025, approved the following key appointments pursuant to Regulation 30 of SEBI LODR Regulations:

New CFO Profile and Background

Vinod Goel, aged about 60 years, brings extensive experience to his new role. He is a fellow member of the Institute of Company Secretaries of India and an associate member of the Institute of Cost Accountants of India. Goel holds B.Com.(Hons.), M.Com. and LL.B. degrees and has over 35 years of post-qualification experience in corporate governance, contracts negotiation, litigation management, costing, finance, internal audit, funds raising, investor relations, mergers & acquisitions, and corporate restructuring.

Goel has been associated with Panacea Biotec Limited since 1999 and has held various senior-level positions. He was previously serving as Group CFO and Head Legal Company Secretary of the company. Consequently, he will cease to be the Company Secretary and Compliance Officer with effect from December 15, 2025.

New Company Secretary Appointment

Ankit Jain, aged about 38 years, has been appointed as the new Company Secretary and Compliance Officer. He is an associate member of the Institute of Company Secretaries of India (A29499) and holds B.Com. and LL.B. degrees along with a Diploma in taxation laws and IPR. Jain brings around 15 years of experience in corporate governance, regulatory compliance, litigation management, contract management, merger & acquisition, and strategic planning.

Jain was previously working as Assistant General Manager-Legal of the company's wholly-owned subsidiary, Panacea Biotec Pharma Limited, since March 2024, where he was actively engaged in secretarial and legal functions.

Transition Context

These appointments follow the resignation of Devender Gupta from the position of Chief Financial Officer, who stepped down on December 15, 2025, citing personal reasons. The appointments were made based on the recommendation and approval of the Nomination Remuneration Committee and Audit Committee.

Revised Key Managerial Personnel Structure

The company has revised its policy for determining materiality of events and authorized the following Key Managerial Personnel for disclosure purposes under SEBI LODR Regulations, effective December 16, 2025:

The Board meeting commenced at 3:00 PM and concluded at 3:36 PM on December 15, 2025. These strategic appointments demonstrate the company's commitment to maintaining strong financial leadership and corporate governance standards during this management transition.