The shares of Panacea Biotec gained 5 per cent in the morning trade on Monday after the company received a manufacturing license from the Drug Controller General (India) for Sputnik V vaccine against Covid-19.

At 11:08 am, Panacea Biotec was trading at ₹396.40 on the BSE, up ₹19.00 or 5.03 per cent. It had opened at ₹400.25 as against the previous close of ₹ 377.40.It hit an intraday high of ₹411.00 and a low of ₹392.75.

On the NSE, it was trading at ₹396.60, up ₹18.20 or 4.81 per cent

The company on Sunday announced that it has received the manufacturing license from the DCGI for Sputnik V vaccine pursuant to its collaboration with Russian Direct Investment Fund (Russia’s sovereign wealth fund).

The batches produced at Panacea Biotec’s facilities at Baddi, Himachal Pradesh were earlier shipped to the Gamaleya Center in Russia for quality control. These batches have successfully passed all the checks for quality parameters both at the Gamaleya Center in Russia and at the Central Drug Laboratory, Kasauli, Himachal Pradesh in India, the company said in an official release.

Sputnik V was registered in India under the emergency use authorisation procedure on April 12 and for vaccination against Covid-19 that started on May 14. Sputnik V has been registered in 67 countries.