- Sputnik V is 91.6 percent effective on Kovid 19, according to Lancet, the leading medical field magazine.
- Panacea Biotech produces a wide range of drugs and vaccines.
- It was established in 1984 and was listed as Panisia Biotech Ltd. in 1995.
Indian biotech company Panacea Biotech Ltd. started production of Russia’s Kovid 19 vaccine Sputnik V from Monday. The Russian Direct Investment Fund (RDIF) has issued a statement saying this. RDIF is also looking at international sales of Sputnik V. Panacea Biotech said in April that it would produce 100 million doses of Sputnik V every year.
RDIF said in the statement that the first batch of vaccines made by Panacea Biotech will be sent to Institute Gammelia, Russia, to develop Sputnik V, for quality controls. Full scale production is expected to begin in summer this year. Panacea Biotech produces a wide range of drugs and vaccines. It was established in 1984 and it was listed in 1995 under the name Panicia Biotech Limited.
Sputnik V is 91.6 percent effective
RDIF CEO Kirill Dimitradev has expressed confidence that the production of Sputnik V in Panacea Biotech will prove to be an important step to help India’s fight against the pandemic. Russia’s Sputnik V vaccine uses two different adenoviruses in the first and second doses. This vaccine has been registered in 65 countries. Sputnik V is 91.6 percent effective on Kovid 19, according to Lancet, the leading medical field magazine.
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Adar Poonawala has sold the entire stake in Panacea Biotech
Serum Institute of India (SII) CEO Adar Poonawala has sold his entire 5.15 percent stake in Panacea Biotec for Rs 118 crore under an open market deal. These shares were bought by SII. According to the Bombay Stock Exchange (BSE) lump sum deal, Poonawala sold 31,57,034 shares of Panacea at a price of Rs 373.85 per share, earning him a total of Rs 118.02 crore. These shares were bought by SII in a separate transaction at the same price. According to Panacea’s March 2021 shareholding figures, Poonawala and SII were public shareholders in Panacea Biotech with 5.15 percent and 4.98 percent stake, respectively.
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