India’s Gland Pharma, To Produce 252M Sputnik V COVID-19 Vaccines
India's Gland Pharma had made a deal with Russians RDIF to make around 252 million Sputnik V doses for COVID-19 vaccine, taking India's total production to around 352 million, the company said on Tuesday, March 16.
The company's shares spiked to 9.5 percent, which reached 2,783.85 rupees (US$38.40) record high. Gland Pharma is also backed by a Chinese company Shanghai Fosun Pharmaceutical Group.
India's Hetero also made a deal already to produce a vaccine of over 100 million doses which has been proven to have an efficacy of 91.6 percent against the COVID-19 virus.
The COVID-19 vaccine Sputnik V was developed by Gamaleya Institute from Moscow. The vaccine had been approved by 22 countries with the signing supply deals from the Russian Direct Investment Fund (RDIF) for over 13 countries.
Dr. Reddy's Laboratories, an Indian drugmaker, had also been ahold of small clinical studies of Sputnik V domestically. It had sought emergency approval for the said vaccine last month, but the drug regulator of India had required more data.
Gland Pharma said that the production of the vaccine would start on the third quarter of the year, at the company's Hyderabad facilities, and the deliveries are estimated to be made in the last quarter of the year. As to which country they will supply the doses to, the company has not specified yet.
The company said that they have been exploring to close more deals for the vaccine.
India had long given AstraZeneca Plc's shot an emergency use approval, as well as the homegrown vaccine that was made by Bharat Biotech. It has sold and donated vaccine shots to a number of countries while starting its vaccination campaign in its own country this month.
Some governments from European Union (EU) have considered discussions with Sputnik V developers as it tries to get its inoculation programs to continue.
