Panacea Biotec surges 9% on DCGI's nod to produce Sputnik V vaccine

Sputnik V was registered in India under the emergency use authorization procedure on April 12, 2021 and vaccination against Covid-19 with the Russian vaccine started on May 14, 2021

Shares of Panacea Biotec surged 9 per cent to Rs 411 on the BSE in the intra-day trade on Monday after the company announced that it has received a manufacturing license to produce Sputnik V vaccine at its Baddi (Himachal Pradesh) plant. The stock of one of the leading vaccine and pharmaceutical producers in India had hit a 52-week high of Rs 453.70 on May 28, 2021.

"The company announces receipt of manufacturing license from Drugs Controller General (India) for Sputnik V vaccine against Covid-19 pursuant to its collaboration with Russian Direct Investment Fund (Russia's sovereign wealth fund). The