New Delhi, Aug 5 (PTI) Panacea Biotec on Thursday said it has entered into a pact to produce up to 25 million doses of Sputnik V COVID-19 vaccine using the drug substance manufactured by pharma firm Generium in Russia.

The company has entered into a "licensing and manufacturing agreement with Human Vaccine Limited Liability Company, a subsidiary of Russian Direct Investment Fund, Russia, Generium Joint Stock Company,Russia, and Dr Reddy's Laboratories Ltd," Panacea Biotec said in a filing to BSE.

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As per the terms of this agreement, Panacea Biotec shall produce the Sputnik V vaccine using the ready-to-fill drug substance manufactured by Generium in Russia, and then supply the entire quantity to Dr Reddy's for distribution in India, it added.

"The agreement is for manufacture (fill and finish) of upto 25 million doses of Sputnik V vaccine," Panacea Biotec added.

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Shares of Panacea Biotec ended at Rs 356.40 per scrip on BSE, up 2.77 per cent from its previous close.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)