Russia’s sovereign wealth fund has agreed to sell 100 million doses of Russia’s first Covid-19 vaccine ‘Sputnik- V’ to ‘Dr. Reddy’, a major listed pharmaceutical company based in India. The reports were confirmed today.
Russia registered the world’s first Covid-19 vaccine in August
In August, Russian President Vladimir Putin announced that Russia successfully developed the first Covid-19 vaccine in the world. However, many countries are still doubtful of the results and could not make a decision for the supply of doses of vaccine to their population.
Clinical trials for Sputnik V not yet completed
Clinical trials of Sputnik-V in India are expected to be to be commenced jointly with Indian pharmaceutical company ‘Dr Reddy’. However, both the trials and supply of vaccine will depend on the approval by the Government of India. India is the second worst-hit country with positive cases of over 5 million and third worst-hit country in reported deaths.
‘Dr Reddy’ will jointly with RDIF produce the Covid-19 vaccine
The Russian Direct Investment Fund (RDIF) has already made deals with countries of Kazakhstan, Brazil and Mexico for the supply of the Covid-19 vaccine. And now it has reached an agreement with Indian Company for the production of around 100 Million doses of Sputnik-V. RDIF would announce the name of Indian firm later today. However according to the source the Indian Pharmaceutical company is ‘Dr Reddy’.
Russia registered first ever Covid-19 vaccine in August. However, Phase 3 trials, the most crucial stage in the development of a vaccine which includes around 40,000 volunteers are not yet completed. The results of the phase 3 trials are likely to be announced in October-November this year.
The Russian authorities have announced that the 42-day trials which included 38 adults each did not find any serious effects among volunteers and confirmed that the participants’ body has been producing antibodies.