"The Russian Direct Investment Fund (RDIF), and Panacea Biotec announced cooperation to produce 100 million doses per year of Sputnik V, the world's first registered vaccine against coronavirus," the company said in a press release on April 4.
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 a total population of over 1.5 billion people. The efficacy of Sputnik V is at 91.6 per cent as confirmed by the data published in the Lancet, one of the world's oldest and most respected medical journals.
"The vaccine is based on a proven and well-studied platform of human adenoviral vectors and 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," it said.
Panacea Biotec is an innovation driven Biotechnology company doing research and development, manufacturing, sales, distribution and marketing of pharmaceuticals, vaccines and biosimilars. The company has the product portfolio of highly innovative prescription products in important therapeutic areas such as pain management diabetes management renal-disease management anti-osteoporosis anti-tubercular gastro-intestinal care products and vaccines. The Company has collaborations and tie-ups with leading national and international research organizations and corporations.
Serum Institute of India Private Limited, the world's largest vaccine manufacturer by number of doses produced and sold globally, held 4.98 per cent stake in Panacea Biotech.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.