Dr. Reddy's Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE: RDY, NSEIFSC: DRREDDY) today announced that it has received the permission from the Drug Controller General of India (DCGI) to import the Sputnik vaccine into India for restricted use in emergency situations as per the provisions of the New Drug and Clincial Trials rules, 2019 under the Drugs and Cosmetics Act.
In September 2020, Dr. Reddy's had partnered with the Russian Direct Investment Fund (RDIF) to conduct the clinical trials of Sputnik V and distribute the vaccine in India. In addition to the trials conducted in Russia by RDIF. Phase II / III clinical trials of the vaccine were carried out by Dr. Reddy's in India.
Dr Reddy's Laboratories Co-chairman and managing director GV Prasad said, "We are very pleased to obtain the emergency use authorsation for Sputnik V in India. With the rising cases in India, vaccination is the most effective tool in our battle against COVID-19. This will enable us to contribute to our nation's effort of vaccinating a signficant proportion of our population."
Sputnik V is now approved for use in 60 countries around the world. It ranks second among coronavirus vaccines globally in terms of the number of approvals issued by government regulators. Sputnik V uses two different vectors for the two shots in a course of vaccination. The efficacy of Sputnik V was determined to be 91.6% as per a published article in the Lancet, one of the world's oldest and most respected medical journals.
Shares of DR.REDDY'S LABORATORIES LTD. was last trading in BSE at Rs.4989.2 as compared to the previous close of Rs. 4759.5. The total number of shares traded during the day was 137327 in over 14858 trades.
The stock hit an intraday high of Rs. 5119.9 and intraday low of 4695. The net turnover during the day was Rs. 673673912.