Tag: panacea biotec

Shares of Panacea Biotec surged 9 percent to Rs 411 on the BSE in the intra-day trade on Monday after the company announced that it has received a manufacturing license to produce Sputnik V vaccine at its Baddi (Himachal Pradesh) plant, after the first batch of the covid-19 vaccine cleared all quality-control tests at the Gamaleya Center, Russia, the company said. “Panacea Biotec is delighted to announce the obtaining of the manufacturing license to produce Sputnik V vaccine in India. On this occasion, we thank the leadership of our Hon’ble Prime Minister Modi Ji and Government of India for timely handholding and expediting clearances to enable ‘Make in India’ vaccines," said Dr. Rajesh Jain, Managing Director, for Panacea Biotec. Sputnik V has been part of India’s covid vaccination drive since 14 May after receiving the emergency use authorization on 12 April. Sputnik V has been registered in 67 countries globally, covering a total population of over 3.5 billion people. Read more

Shares of Panacea Biotec gained 20 per cent upper circuit at Rs 203 on the BSE on Wednesday after the company said it would partner with US-based Refana Inc to make a potential vaccine for COVID-19. Under the partnership, Panacea Biotec will be responsible for product development and commercial manufacturing of an inactivated virus-based vaccine, the Indian firm said in an exchange filing. The collaboration aims to make more than 500 million doses of the vaccine candidate, with over 40 million doses expected to be available early next year. Both Panacea and Refana will undertake sales and distribution of the vaccine in their respective territories, it said. With today’s rally in the stock, the market capitalisation of Panacea Biotec stands at Rs 1,242.17 crore, according to BSE. The stock is trading close to its 52-week high level of Rs 210.60, touched on April 28, 2020. Around 860,000 shares changed hands and there were pending buy orders for 210,000 shares on the NSE and BSE.