Release Rs 14 crore to Panacea Biotec if it gets approval to produce Sputnik V: Delhi HC to Centre

The Delhi High Court on Friday directed the Centre to release its due of Rs 14 crore, along with the interest amount to pharmaceutical company Panacea Biotec, for manufacturing coronavirus vaccine Sputnik V if it obtains permission from the authorities to produce the jab in India, The Indian Express reported.

“We are a bit anguished with the way things have transpired during the second wave,” the court said. “Vaccine shortage is hitting everybody.”

A division bench of Justices Manmohan and Najmi Waziri was hearing a plea filed by Panacea Biotec for release of the money awarded to it in 2019 by an arbitral tribunal in a 2010 case related to the manufacture of influenza vaccines. In its petition, the company submitted that it would be deprived of the opportunity to manufacture the Sputnik V vaccine if the arbitration amount of Rs 14 crore, along with 12% annual interest since 2012, was not paid by the central government.

“It will not be an exaggeration today that human race [is] in general facing an existential crisis,” the court said while allowing the petition, reported Live Law. “Though according to government of India, all best ways to vaccinate the public has been made. Yet there is a shortage of vaccine in India.”

The Centre, meanwhile, had opposed…

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