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Remedy Biotec Rallies 9% On Receiving License To Produce Sputnik V Vaccine

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Sputnik V vaccine was developed by Russia's sovereign wealth fund Russian Direct Investment Fund.Shares of the Delhi-based drug maker - Panacea Biotec - rallied as much as 9 per cent to hit an intraday high of Rs 411 on the BSE after it informed exchanges that it has received license from the Drug Controller General (India) to manufacture Sputnik V Covid-19 vaccine in the country.

The Sputnik V vaccine will be produced at its Baddi manufacturing facility in Himachal Pradesh, Panacea Biotec said.Sputnik V was registered in India under the emergency use authorization (EUA) procedure on April 12, 2021 and vaccination against Covid-19 with the Russian vaccine started on May 14, 2021."The batches produced at Panacea Biotec's facilities at Baddi, Himachal Pradesh were earlier shipped to the Gamaleya Center in Russia for quality control.

The said batches have successfully passed all the checks for quality parameters both at the Gamaleya Center in Russia and at the Central Drug Laboratory, Kasauli, Himachal Pradesh in India," the Delhi-based drugmaker said in a press release.Sputnik V vaccine has the highest effectiveness - 91.6 per cent - after Moderna and Pfizer shots."Sputnik V uses two different vectors for the two shots in a course of vaccination, providing immunity with a longer duration than vaccines using the same delivery mechanism for both shots.

The safety, efficacy and lack of negative long-term effects of adenoviral vaccines have been proven by more than 250 clinical studies over two decades," Panacea Biotec added.Sputnik V vaccine was developed by Russia's sovereign wealth fund Russian Direct Investment Fund.As of 11:46 am, Panacea Biotec shares were trading nearly 6 per cent higher at Rs 399.50, outperforming the Sensex which was up 0.7 per cent.




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