Morepen Labs hits near 19-1/2-yr high on first test batch of Sputnik V vaccine

Morepen Laboratories

06/07/2021 09:34

** Indian drugmaker's shares  MORL.NS  gain as much as 15.2%
to 75 rupees, their highest since Jan. 9, 2002
    ** MORL says has begun production of the Sputnik V COVID-19
vaccine, with the first test batch to be shipped to the Gamaleya
Center, the Moscow institute that developed the shot
 urn:newsml:reuters.com:*:nR4N2NK016
    ** India is one of the biggest production hubs for the shot,
with Russia's sovereign wealth fund having reached agreements
with several drugmakers to produce more than 850 mln doses per
year
    ** More than 25.8 mln MORL shares traded as of 0825 GMT, 4.5
times their 30-day moving avg of ~5.7 mln shares
    ** Up to Monday's close, stock had more than doubled YTD

 (Reporting by Anuron Kumar Mitra in Bengaluru)
 ((AnuronKumar.Mitra@thomsonreuters.com; +91 99863 58469;))