Dr Reddy’s gets approval from DCGI for emergency use of Sputnik V
Dr Reddy’s Laboratories Ltd, an integrated pharmaceutical company, announced this morning that Drug Controller General of India (DCGI) has granted it the permission to import Sputnik vaccine into the country for restricted use in emergency situations as per the provisions of the New Drug and Clinical Trials Rules, 2019 under Drugs & Cosmetics Act.
Last year, in the month of September, the company had collaborated with Russian Direct Investment Fund (RDIF) to conduct the clinical trials of Sputnik V and distribute the vaccine in India. In addition to the trials conducted by RDIF in Russia, Dr Reddy’s had also carried out the Phase 2 and 3 clinical trials of the vaccine.
The vaccine, Sputnik V has authorisation in 60 countries around the world and ranks second among Coronavirus vaccines globally in terms of the number of approvals issued by the government regulators. As per the medical journal Lancet, the vaccine has an efficacy rate of 91.6 per cent.
“We are very pleased to obtain the emergency use authorisation for Sputnik V in India. With the rising cases in India, vaccination is the most effective tool in our battle against COVID-19. This will enable us to contribute to our nation’s effort of vaccinating a significant proportion of our population,” says GV Prasad, Co-Chairman and MD of Dr Reddy’s Laboratories.
At 12.50 pm, the share price of Dr Reddy’s Laboratories Ltd was trading at Rs 4,823.60, which was a fall of 3.32 per cent over its previous closing price of Rs 4,989.20 on BSE.