Shilpa Medicare joins hands with Dr Reddy's Laboratories for production-supply of Sputnik V vaccine
Shilpa Medicare Limited via its wholly-owned subsidiary, Shilpa Biologicals Private Limited (SBPL) has entered into a three-year definitive agreement with Dr Reddy's Laboratories Limited (DRL) for production-supply of Sputnik V vaccine (used for COVID-19) from its integrated biologics R&D-cum-manufacturing centre at Dharwad (Karnataka).
Under the agreement, SBPL will have the responsibility of manufacturing the vaccine, while DRL is responsible for distribution & marketing of the vaccine in its marketing territories.
The targeted production of the dual vector Sputnik V for the first 12 months is 50 million doses (50 million of component 1 and 50 million of component 2), from the date of start of commercial production.
DRL has partnered with HV/RDIF for the clinical development of the vaccine and has distribution rights in geographies including India. DRL will facilitate the transfer of the sputnik technology to SBPL. 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 includes the adenoviral, subunit & DNA vaccines, monoclonal antibodies & fusion proteins.
With this, the stock of Shilpa Medicare jumped 13.5 per cent to Rs 516.95 from its previous close of Rs 455.35 on BSE.