New Delhi, Aug 5 (PTI) Shares of Panacea Biotec on Thursday gained 3 per cent after the company said it has entered into a pact to produce up to 25 million doses of Sputnik V COVID-19 vaccine.

The stock jumped 2.77 per cent to close at Rs 356.40 on the BSE. During the day, it gained 4.95 per cent to Rs 364.

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On the NSE, it closed with a gain of 3 per cent at Rs 357.05.

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.

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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.

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 up to 25 million doses of Sputnik V vaccine," Panacea Biotec added.

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