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Gland Pharma rises after bagging deal to supply Russia's Covid-19 vaccine

Analysts upbeat about company's revenues, but say it will have to bump up its capacity quickly to meet the Russian order

Topics
Gland Pharma | Russia | Coronavirus Vaccine

Ram Prasad Sahu  |  Mumbai 



Sputnik V. Photo: Reuters
Gland Pharma’s deal with the Russian Direct Investment Fund is for supplying 252 million doses from the fourth quarter of 2021. Photo: Reuters

The stock hit a record high on Tuesday after the company signed a deal to supply Covid-19 vaccines from its injectables facilities. The deal with the Russian Direct Investment Fund envisages the supply of 252 million doses of Sputnik V Covid-19 vaccine. The company also indicated that this was the first of multiple partnerships being explored to leverage its manufacturing capacity and capabilities to support the global supply of Covid-19 vaccines.

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First Published: Wed, March 17 2021. 19:44 IST

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