Panacea Biotech up 20%

about 4 months ago
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Panacea Biotech is among the top five gainers on the BSE currently. From its close of Rs.184.05 yesterday, it today opened at Rs.212.90, going on to briefly skim the 20% UC of the day at Rs.220.85. Its 52-week high stands at Rs.265.

The stock price reacted positively to the news that it, along with the Russian Direct Investment Fund (RDIF) will produce 100 million doses per year of the Russian vaccine, Sputnik V.

Production of Sputnik V at Panacea Biotec sites will help facilitate global supply of Sputnik V to international partners of RDIF.

To date, Sputnik V has been registered in 59 countries globally with total population of over 1.5 billion people. Efficacy of Sputnik V is 91.6% as confirmed by the data published in the Lancet, one of the world's oldest and most respected medical journals.

The company will produce Sputnik V in its internationally accredited facilities, complying with strict GMP standards and prequalified by WHO.

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