Moscow, May 24: The Russian Direct Investment Fund (RDIF) and Panacea Biotec, one of the leading pharmaceutical producers in India, on Monday launched the production of the Sputnik V COVID-19 vaccine.

According to a press statement, the first batch produced at Panacea Biotec's facilities at Baddi will be shipped to the Gamaleya Center for quality control. Full-scale production of the vaccine is due to start this summer. The company's facilities comply with good manufacturing practice (GMP) standards and are prequalified by World Health Organization (WHO).

"Launch of production in India in partnership with Panacea Biotec marks an important step in helping the country fight the pandemic. Production of Sputnik V supports efforts of India's authorities to leave behind the acute phase of coronavirus as soon as possible while the vaccine will also be exported at a later stage to help prevent the spread of the virus in other countries around the world," said Kirill Dmitriev, RDIF CEO. COVID-19 Vaccination in India: On-Site Registration Allowed at Government Vaccine Centres For 18-44 Years Age Group.

"This marks a significant step as we initiate production of Sputnik V. Together with RDIF, we hope to help bring a sense of normalcy back to people across the country and around the world," said Dr Rajesh Jain, Managing Director of Panacea Biotec.

The RDIF and Panacea had announced in April that they will produce 100 million doses of Sputnik V per year. Sputnik V was registered in India under the emergency use authorization procedure on April 12, and vaccination against coronavirus with the Russian vaccine started on May 14.

Last week, pharmaceutical company Shilpa Medicare had also joined efforts to ramp up the manufacturing capacity of the Sputnik V vaccine. Hyderabad-based Dr Reddy's Laboratories had partnered with the RDIF last year to conduct the clinical trials of the Sputnik V and for its distribution rights in India. India has so far received two consignment of the COVID-19 vaccines.

(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)