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    531349   INE922B01023

PANACEA BIOTEC LIMITED

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Panacea Biotec : Russia signs deal with India to produce 100 million Sputnik V annual doses

04/05/2021 | 09:57am EDT

Moscow, Apr 5 (EFE).- The Russian Direct Investment Fund on Monday announced an agreement with the Indian Panacea Biotec to produce 100 million annual doses of the Sputnik V coronavirus vaccine.

The deal would allow RDIF to provide its international partners with the jab, the Russian sovereign fund said in a statement.

India is one of the first countries Russia has approached to manufacture the vaccine, approved by 59 countries.

"We are pleased to collaborate with RDIF to produce Sputnik V for global markets," Managing Director of Panacea Biotec Rajesh Jain said according to the statement.

"Panacea Biotec brings decades of vaccine manufacturing and distribution know-how to scale-up Sputnik V supplies. Panacea Biotec will produce Sputnik V in its internationally accredited facilities complying to strict GMP standards and prequalified by WHO," he added.

RDIF CEO Kirill Dmitriev said: "cooperation with Panacea Biotec is an important step to produce the vaccine in India and to supply our international partners around the world."

Last week, Dmitriev notified the Russian president Vladimir Putin that India and South Korea are producing the vaccine and that the RDIF has signed agreements with a dozen countries.

The overseas-manufactured doses can be administered to Russians as well as other countries' populations, Dmitriev added.

Russia is awaiting the arrival of a European Medicines Agency delegation which could conclude the vaccine approval process that started in early March. EFE

© 2021 EFE News Services (U.S.) Inc., source EFE Ingles

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Financials
Sales 2021 6 248 M 84,8 M 84,8 M
Net income 2021 -1 477 M -20,0 M -20,0 M
Net Debt 2021 7 632 M 104 M 104 M
P/E ratio 2021 -7,36x
Yield 2021 -
Capitalization 17 855 M 242 M 242 M
EV / Sales 2020 2,52x
EV / Sales 2021 2,96x
Nbr of Employees 2 473
Free-Float 9,87%
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Managers and Directors
Rajesh Jain Managing Director & Executive Director
Sandeep Jain Joint Managing Director & Executive Director
Vinod Goel Group CFO, Secretary & Compliance Officer
Devender Gupta CFO & Head-Information Technology
Soshil Kumar Jain Chairman