Shares of Panacea Biotec on Monday closed with gains of over 5 per cent after the company announced it has received a manufacturing licence for the Sputnik V vaccine.
Panacea received the manufacturing licence from the Drugs Controller General (India) pursuant to its collaboration with the Russian Direct Investment Fund (RIDF).
The RDIF is Russia’s sovereign wealth fund, which was established in 2011 to make equity co-investments, primarily in Russia, alongside other international financial and strategic investors.
Panacea Biotec said the batches produced at its facilities at Baddi, Himachal Pradesh, were shipped to the Gamaleya Center in Russia for quality control. These batches had passed all the checks for quality parameters both at the Gamaleya Center in Russia and at the Central Drug Laboratory, Kasauli, Himachal Pradesh.
On the BSE on Monday, the Panacea share opened higher at Rs 400.25 and rose to an intra-day peak of Rs 411 before closing at Rs 397.35 — a rise of Rs 19.95, or 5.29 per cent over Friday’s close.
In May, Serum Institute of India (SII) CEO Adar Poonawalla had sold his entire stake in Panacea through an open market transaction for Rs 118 crore. These shares were picked up by SII.
Panacea Biotec focuses on discovery, development, and commercialisation of prescription medicines and segments like vaccines, diabetes, transplant, gastroenterology, and oncology.
