Shilpa Medicare Limited ties up with Dr. Reddy'S Laboratories Limited for production of Sputnik V Vaccine

Shilpa Medicare Limited via its wholly owned subsidiary Shilpa Biologicals Private Limited (SBPL), has entered into a 3 year Definitive Agreement with Dr. Reddy's Laboratories Limited (DRL) for production-supply of the Sputnik V vaccine from its integrated biologics R&D cum manufacturing center at Dharwad, Karnataka.

The targeted production of the dual vector Sputnik V for the fIrst 12 months is 50 million doses (50 million of Component 1 and 50 million of component 2), from the date of start of commercial production.

DRL has partnered with HVIRDIF for clinical development of the vaccine and has distribution rights in geographies including India. DRL will facilitate the transfer of the sputnik technology to SBPL. Under the agreement, SBPL will be responsible for manufacture of the vaccine, while DRL is responsible for distribution/marketing of the vaccine in its marketing territories.

The companies are also exploring the option to manufacture Sputnik Light, a single dose version of the vaccine in the near future.

The company views Biologics as a strategic growth area and has made signifIcant investments in setting up a High end, Flexible Biologics facility in Dharwad to cater to the requirements of the fast growing biologics field, that include the adenoviral, subunit & DNA vaccines, Monoclonal antibodies & fusion proteins.

Shares of SHILPA MEDICARE LTD. was last trading in BSE at Rs.455.35 as compared to the previous close of Rs. 448. The total number of shares traded during the day was 39851 in over 1152 trades.

The stock hit an intraday high of Rs. 470 and intraday low of 441.65. The net turnover during the day was Rs. 18297006.

Shares of DR.REDDY'S LABORATORIES LTD. was last trading in BSE at Rs.5195.85 as compared to the previous close of Rs. 5302. The total number of shares traded during the day was 233088 in over 25124 trades.

The stock hit an intraday high of Rs. 5398 and intraday low of 5160. The net turnover during the day was Rs. 1230955812.

Source : Equity Bulls

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