Panacea Biotec announced the receipt of Establishment Inspection Report (EIR) from the U.S. Food & Drug Administration ('USFDA') indicating the formal closure of the Inspection conducted by USFDA, at its Pharmaceutical Formulation Facility for Oncology Parenteral and Oral Solids Dosage at Malpur, Baddi, District Solan, Himachal Pradesh, India.

Shares of the company gained Rs 9.7, or 3.45%, to trade at  Rs 290.75.  The total volume of shares traded  was  12,527 at the BSE (10.29 a.m., Monday).