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Russia's sovereign wealth fund partners with India's Dr Reddy's over COVID-19 vaccine

(Xinhua)    10:56, September 17, 2020

NEW DELHI, Sept. 16 (Xinhua) -- Russia's sovereign wealth fund and Indian pharmaceuticals major Dr Reddy's Laboratories on Wednesday said they had agreed to cooperate on clinical trials and distribution of the Sputnik V vaccine for COVID-19 in India.

The Russian Direct Investment Fund (RDIF), Russia's sovereign wealth fund, and Dr. Reddy's Laboratories Ltd. (Dr. Reddy's) had agreed to cooperate on clinical trials and distribution of Sputnik V vaccine in India. Upon regulatory approval in India, RDIF shall supply to Dr. Reddy's 100 million doses of the vaccine, read a joint press statement issued by the two.

"The Sputnik V vaccine, which is based on well studied human adenoviral vector platform with proven safety, is undergoing clinical trials for the coronavirus pandemic. Deliveries could potentially begin in late 2020 subject to completion of successful trials and registration of the vaccine by regulatory authorities in India," said the statement.

"India is amongst most severely impacted countries from COVID-19 and we believe our human adenovirus dual vector platform will provide a safe and scientifically validated option to India in the battle against COVID-19," Kirill Dmitriev, CEO of RDIF said.

"RDIF partners will receive an effective and safe drug to fight the coronavirus. The platform of human adenoviral vectors, which is the core of the Russian vaccine, has been tested in more than 250 clinical studies over decades, and it has been found safe with no potential negative long-term consequences."

G V Prasad, co-chairman of Dr Reddy's, said the Phase I and II clinical trials have shown promising results.

"We will be conducting Phase-III trials in India to ensure safety and efficacy for the Indian population and to meet the requirements of the Indian regulators. Sputnik V vaccine could provide a credible option in our fight against COVID 19 in India," he said.

At present several vaccine trials are going on in India. On Sunday India's federal health minister Harsh Vardhan said COVID-19 vaccine might be ready by the first quarter of next year.

Currently, India is in the grip of COVID-19 pandemic and cases are increasing with every passing day. On Wednesday the number of COVID-19 cases in the country has reached 5,020,359 including 82,066 deaths.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Web editor: Wen Ying, Liang Jun)

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