Panacea Biotec Soars 5% On Starting Sputnik V Manufacturing in India

"The first batch produced at the company's facilities at Baddi will be shipped to the Gamaleya Center for quality control. Full-scale production of the vaccine is due to start this summer," Panacea Biotech said

Panacea Biotech shares hit the upper circuit of 5 per cent at Rs 406.10 on the BSE after the Panacea Biotech and the Russian Direct Investment Fund (RDIF) announced the launch of production of the Russian Sputnik V vaccine against coronavirus. "The first batch produced at the company's facilities at Baddi will be shipped to the Gamaleya Center for quality control. Full-scale production of the vaccine is due to start this summer, Company's facilities comply with Good Manufacturing Practice (GMP) standards and are prequalified by World Health Organization (WHO)," Panacea Biotech said in a regulatory filing to the stock exchanges. Sputnik V was registered in India under the emergency use authorization procedure on April 12, 2021 and vaccination against coronavirus with the Russian vaccine started on May 14. RDIF and Panacea will producing 100 million doses of Sputnik V per year.