(MENAFN- Trend News Agency ) India's Panacea Biotec will manufacture 25 million doses of Russia's Sputnik V vaccine for COVID-19, the company said in a regulatory filing with the Bombay Stock Exchange on Thursday, Trend reports citing Xinhua .
As per the licensing agreement, Panacea Biotec shall produce Sputnik V vaccine using the ready to fill drug substance manufactured by Generium in Russia, and then supply the entire quantity thereof to another Indian private drug company Dr Reddy's Laboratories for distribution in India.
In July, Panacea Biotec has received the manufacturing license to produce the vaccine after Russian Direct Investment Fund -- the sovereign wealth fund, granted the Indian company the license to manufacture the vaccine.
Earlier in May, the batches of vaccine were produced at Panacea Biotec's facilities in India and were shipped to the Gamaleya Center in Russia for quality control and they have successfully cleared all quality parameters both in Russia and India.
Sputnik V, the vaccine developed by Moscow-based Gamaleya Institute, is the third vaccine to be approved in India after Astrazeneca's Covishield and Indian company Bharat Biotech's Covaxin.
So far, India has completed over 489 million vaccinations, with 411,076 active cases of COVID-19 and 426,290 deaths reported till date.
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