Russia to provide Indian drug company Dr. Reddy’s with 100 million doses of its COVID-19 vaccine

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The Russian Direct Investment Fund, or RDIF, Russia’s sovereign wealth fund, and Indian drug company Dr. Reddy’s Laboratories Ltd. , have agreed to cooperate on clinical trials and distribution of Russia’s COVID-19 vaccine named Sputnik V in India. In a joint statement, the partners said RDIF will supply Dr. Reddy’s with 100 million doses of the vaccine. Delivery could begin in late 2020, said the statement. Russia surprised and alarmed experts when it said on Aug. 11 that it was registering its vaccine before completing Phase 3 clinical trials. The vaccine “is based on well-studied human adenoviral vector platform with proven safety, is undergoing clinical trials for the coronavirus pandemic,” said the statement. On Sept. 4, medical journal The Lancet released a research paper on the Phase 1 and Phase 2 trials of Sputnik V, showing no serious adverse effects and a stable immune response. The vaccine is now being tested in a trial involving 40,000 volunteers, with the first results expected in October or November. Dr. Reddy’s U.S.-listed shares were up 1.7% premarket and have gained 49% in the year to date, while the S&P 500 has gained 5%.
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