Panacea Biotec Ltd enters into agreement for production Sputnik V Covid-19 vaccine

Panacea Biotec Ltd has, on August 3,2021, entered into a Licensing and Manufacturing Agreement with Human Vaccine Limited Liability Company, a subsidiary of Russian Direct Investment Fund, Russia, GENERIUM Joint Stock Company and Dr. Reddy's Laboratories Limited.

As per the terms of this Agreement, Panacea Biotec shall produce Covid-19 vaccine Sputnik V using the ready to fill drug substance manufactured by Generium in Russia, and then supply the entire quantity thereof to Dr. Reddy's for distribution in India.

The agreement is for manufacture (fill and finish) of upto 25 million doses of Sputnik V vaccine.

Shares of Panacea Biotec Ltd. was last trading in BSE at Rs. 356.4 as compared to the previous close of Rs. 346.8. The total number of shares traded during the day was 107279 in over 5474 trades.

The stock hit an intraday high of Rs. 364 and intraday low of 326. The net turnover during the day was Rs. 37399336.

Source : Equity Bulls

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