Panacea Biotec has disclosed receiving income tax demand orders aggregating ₹9.38 crores from the tax authorities on December 26, 2025. The pharmaceutical company made this disclosure under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Details of Tax Demand Orders

The company received three separate demand orders dated December 24, 2025, from the Office of the Assistant Commissioner of Income Tax, Central Circle 29, Delhi. These orders were issued under Section 156 of the Income Tax Act, 1961, imposing penalties for alleged under-reporting of income.

Nature of Allegations

The Income Tax Department has alleged under-reporting of income in the assessment orders passed earlier for the respective assessment years. Based on these allegations, penalties have been imposed under Section 270A of the Income Tax Act, 1961. The demand orders specifically target discrepancies identified during the assessment process for the three financial years.

Company's Response and Impact Assessment

Panacea Biotec has stated that based on its assessment, the demand is not maintainable. The company is taking all necessary steps, including filing an appeal with the appellate authority against the said demand orders.

Regarding the financial impact, the company has indicated that it does not envisage any relevant impact on its financial, operational, or other activities. This suggests that the management believes the demands can be successfully contested through the appellate process.

Regulatory Compliance

The disclosure was made in compliance with regulatory requirements under Regulation 30 of the SEBI LODR Regulations, read with Para B of Part A of Schedule III. The company also followed the guidelines specified in SEBI Master Circular No. SEBI/HO/CFD/CFD/PoD2/CIR/P/0155 dated November 11, 2024, providing comprehensive details about the tax authority's action and its potential impact.

The disclosure was signed by Ankit Jain, General Manager – Legal & Company Secretary, indicating the matter's significance and the company's commitment to transparent communication with stakeholders regarding regulatory developments.

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 represents a substantial boost to the company's global vaccine supply capabilities and strengthens its partnership with the international organization.

Contract Enhancement Details

The enhanced agreement with UNICEF includes multiple components that demonstrate the expanded scope of Panacea Biotec's involvement in global vaccine distribution. The contract amendment encompasses both value increases to existing awards and an additional new award for vaccine supply, indicating UNICEF's confidence in the company's manufacturing and supply capabilities.

Pharmaceutical Industry Developments

In related pharmaceutical sector news, Taro Pharmaceutical Industries, a unit of Sun Pharma, is recalling over 17,000 units of an antifungal medication in the US due to manufacturing issues. The recall affects Ciclopirox Shampoo, an antifungal medication used to treat seborrheic dermatitis, a condition that causes dry, flaky, and itchy skin.

Regulatory Inspection Update

Strides Pharma Science Limited's US subsidiary, Strides Pharma Inc. USA (SPI), recently underwent a routine current Good Manufacturing Practices (cGMP) inspection by the USFDA. The inspection was conducted at the company's Formulations Facility in Chestnut Ridge, New York, from December 17 to December 23.

Following the inspection, the US FDA issued a Form 483 with four observations. The company has indicated that these observations are procedural in nature and does not anticipate any impact on the supply of its commercial products. SPI plans to respond comprehensively to these observations within the stipulated timeframe and expresses confidence in addressing all concerns to the USFDA's satisfaction.

These developments highlight the ongoing regulatory oversight in the pharmaceutical industry and the importance of maintaining compliance with manufacturing standards for companies operating in international markets.