Indian-Firm Panacea Biotec Partners With U.S.-Based Refana for COVID-19 Vaccine

Indian-Firm Panacea Biotec Partners With U.S.-Based Refana for COVID-19 Vaccine

A statement given out to stock exchanges by Panacea Biotec Ltd mentioned that the company has teamed up with American company Refana Inc based in the U.S. for a new COVID-19 vaccine. Bengaluru-based Panacea mentioned that it will have at least 40 million (4 crores) vaccines ready by early 2021. In the long run, this partnership is expected to produce at least 500 million (50 crores) vaccines for the coronavirus.

As a result of this statement to the stock exchange, Panacea Biotec’s stock prices surged by 20% on the National Stock Exchange. It is worth noting that multiple biotech and pharmaceutical companies are currently engaged in developing an effective vaccine for COVID-19. While clinical trials are said to be underway for some of these vaccines, previous estimates mentioned that a vaccine wouldn’t be ready by mid-2021 at least. 

Also read - Maharashtra To Procure 10,000 Vials Of Anti-Viral Drug

Yesterday, we learnt about British firm GSK looking to mass-produce its COVID-19 vaccine in partnership with French pharma giant Sanofi. GSK reportedly expects to have at least a billion doses of the vaccine ready by the second half of 2021.

Meanwhile, the Indian Council of Medical Research (ICMR) supported the COVID-19 vaccine developed by Oxford’s Jenner Institute, though the World Health Organization (WHO) didn’t come to the same conclusion.

China, on the other hand, will reportedly have a COVID-19 vaccine ready by the end of 2020. It’s no secret that countries have come together to collectively fight this virus, though it’s still some distance away. Until then, adequate social distancing measures and proper sanitization will have to lead the way. 

MumbaiLive would like to send you latest news updates