RDIF ties up with Panacea for Covid-19 vaccine

Russia’s sovereign wealth fund, Russian Direct Investment Fund (RDIF) and domestic firm, Panacea Biotec announced a tie up to produce 100 million doses per year of potential Covid-19 vaccine, Sputnik V.

The production of Sputnik V at Panacea Biotec sites will help facilitate global supply of Sputnik V to international partners of RDIF, a company statement said. This is the company's sixth tie up in India, while it also has an agreement with Dr Reddy’s Laboratories for conducting local clinical trials of the vaccine. Sputnik V is yet to get emergency authorisation in the country.

In March, RDIF announced production contracts with three domestic manufacturers which will vaccinate over 300 million people with Sputnik V in a year. Besides, Virchow Biotech’s 200 million doses to vaccinate 100 million people, Stelis Biopharma (Strides) will roll out 200 million doses, and Gland Pharma, 252 million doses for 126 million people.

Last year, it had tied up with Hyderbad-based Hetero for over 100 million doses. A majority of the companies are manufacturers of finished formulations, excluding Gland, and will have to repurpose their facilities and capabilities for making vaccines.