India's Panacea Biotec jumps 20%; co to produce 100 mln Sputnik V doses annually

Panacea Biotec

06/04/2021 05:30

** Shares of Panacea Biotec  PNCA.NS  surge as much as 20%
to 221.25 rupees in their biggest intraday rise since Dec. 2
    ** Co has agreed to produce 100 mln doses of Russia's
Sputnik V COVID-19 vaccine annually  urn:newsml:reuters.com:*:nR4N2L500B
    ** The Russian Direct Investment Fund (RDIF), which markets
the shot internationally, did not say when production would
begin  urn:newsml:reuters.com:*:nR4N2L500B
    ** Stock climbs to highest level in nearly two months
    ** Around 1.5 mln shares change hands by 0420 GMT, vs 30-day
avg of 108,426 shares
    ** Shares of industry peer Dr.Reddy's Laboratories Ltd
 REDY.NS , which has been working with RDIF to hold small
domestic clinical studies of Sputnik V, were up as much as 1.5%
early on Tuesday
    ** Panacea Biotec stock down 23.02% so far this year

 (Reporting by Chandini Monnappa in Bengaluru)
 ((Chandini.M@thomsonreuters.com; 910867497919;))