Shilpa medicare inks deal with dr. Reddy's to manufacture Sputnik V vaccine.
Shilpa medicare, a pharma company, entered into a deal to manufacture Sputnik V with Dr. Reddy's laboratory. Shilpa Biologicals, an arm of Shilpa Medicare, will be manufacturing the COVID 19 vaccine. It's a three-year definitive agreement with Dr. Reddy's. The deal goes- Shilpa Medicare will manufacture Sputnik V, and Dr. Reddy's will be responsible for marketing and distribution.
The pharma company stated, "DRL has partnered with HV/RDIF for clinical development of the vaccine and has distribution rights in geographies including India. DRL will facilitate the transfer of the Sputnik technology to SBPL. Under the agreement, SBPL will be responsible for manufacture of the vaccine, while DRL is responsible for distribution/marketing of the vaccine in its marketing territories,"
The company targets to produce five crore doses in the first 12 months. After inking the agreement, Shilpa Medicare's share rose by 12% on BSE.
The company is looking forward to manufacturing a single-dose version in the near future. It said, "The companies are also exploring the option to manufacture Sputnik Light, a single dose version of the vaccine in the near future. The company views biologics as a strategic growth area and has made signifIcant investments in setting up a high end, flexible biologics facility in Dharwad to cater to the requirements of the fast growing biologics field, that include the adenoviral, subunit & DNA vaccines, monoclonal antibodies & fusion proteins,"
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