Panacea Biotech share price rose on Wednesday after BJP National Spokesperson Sambit Patra in a virtual press conference said that Indian government has asked Bharat Biotech (manufacturer of COVAXIN), and Panacea Biotech to ramp up production of the vaccination against COVID-19.
Patra said that Bharat Biotech and Panacea Biotech are equipped with Biosafety level 3, or BSL-3, which is needed to safely handle the deal virus in the highest stringent environmentally-controlled manufacturing facility.
"Covaxin is prepared after killing live virus, the most important thing that is required is that of Bio Safety Level so that the virus does not leave and become dangerous so we need to contain it and have a third level of BSL. This top level of safety under BSL is only with Bharat biotech, the other company that has this level of safety is Panacea," he said.
"The Govt has brought both these companies together and has asked at any cost increase production of Covaxin. Both companies are in talks and hopefully we will soon move forward on this," said Patra.
Panacea Biotec is a global generic and specialty pharmaceutical and vaccine maker registered in India.
Shares of Panacea Biotech were locked in upper circuit at Rs 377, up 5 percent.
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Addressing the concern of vaccine shortage, the BJP spokesperson lashed out at Arvind Kejriwal-led Delhi government for indulging in vaccine politics.
He said the Indian Council of Medical Research (ICMR) has also roped in a few PSU companies to boost the vaccine production. The PSUs that have been asked to produce Covaxin are Haffkine Bio Pharmaceutical, Indian Immunologicals Ltd, and Bharat Immunological & Biologicals, Patra said.
India has been grappling with second wave of coronavirus reporting more that 3 lakh new daily COVID cases. In the wake of rising cases, the government allowed from May 1 vaccination for people in age group 18-44, in addition to people aged above 45.
Since then India has been facing a shortage of vaccine doses.
The BJP on Monday also slammed Delhi's Arvind Kejriwal government
over the COVID-19 crisis, claiming the chief minister has been busy spending crores on publicity and "misleading" people while washing his hands of responsibility and leaving everything to the Centre.