Panacea Biotec Share Price rises 9% on DCGI nod to Manufacture Sputnik V vaccine

Panacea Biotec’s share price rose 9 percent intraday on July 5 after the company received a manufacturing license from the Drugs Controller General India (DGCI) for the Sputnik V vaccine.

The license is a necessary condition for using Sputnik V produced by Panacea Biotech in India.

The batches produced at Panacea’s 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.

“Panacea Biotec is delighted to announce the obtaining of the manufacturing license to produce Sputnik V vaccine in India. At this occasion, we thank the leadership of our Hon’ble Prime Minister Modi ji and Government of India for timely handholding and expending clearances to enable ‘Make in India’ vaccines,” said Dr. Rajesh Jain, Managing Director, for Panacea Biotec.

At 11.56 hrs, Panacea Biotech was quoting at Rs 399.10, up to Rs 21.70, or 5.75 per cent on the BSE.

The share touched at a 52 week high of Rs 453.70 and a 52 week low of Rs 171 on 28 May, 2021 and 04 November, 2020, respectively.

Currently, it is trading 12.03 percent below its 52 week high and 133.39 percent above its 22-week low.