Russia ropes in Dr Reddy's to sell 100 mn Covid-19 vaccine doses; stk up 4%

Deliveries could potentially begin in late 2020 subject to completion of successful trials and registration of the vaccine by regulatory authorities in India, Dr Reddy's said in a statement

Shares of Dr Reddy jumped up to 4.4 per cent to Rs 4,639 on the BSE on Wednesday after the firm said it has been roped-in by Russia-based Russian Direct Investment Fund (RDIF) to distribute 100 million Covid-19 vaccine doses in India.

"Russia's sovereign wealth fund said on Wednesday it will supply India's Dr. Reddy's Laboratories with 100 million doses of the Sputnik-V vaccine against COovid-19 once it receives regulatory approval in India," said a report by news agency Reuters. 

The Russian Direct Investment Fund (RDIF) added that it had agreed to cooperate on clinical trials and the distribution of the vaccine