Panaxia Q2 Revenue Grows 19.2% Reaching $5.49M, Sells Its Secondary Operations In Israel

Panaxia Labs Israel Ltd. (TASE: PNAX) (OTCPK: PXLIF) a subsidiary of Panaxia Global released its financial reports on Thursday for the second quarter and first half of 2021, revealing second-quarter revenues of NIS17.6 million ($5.49 million), up by 19.2% from NIS14.8 million in the same quarter of 2020.

Financial Highlights

  • Panaxia's revenues in the first half of 2021 amounted to NIS37.3 million, an increase of 38.4% compares to revenues of NIS26.9 million in the same period last year. The increase in revenues is due to both an increase in sales of finished products to patients and pharmacies and a rise in revenues from manufacturing services. In addition, during the first half of 2021, the company made sales to Germany and Cyprus.
  • The net profit in the 2nd …

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