Rdif's India Partners Rise After Sputnik V Covid: 19 vaccine gets regulatory OK

Panacea Biotec

13/04/2021 06:07

** Shares of Indian drugmakers that have partnered with
Russian Direct Investment Fund (RDIF) rise after India's drug
regulator approves Sputnik V COVID-19 vaccine for use
 urn:newsml:reuters.com:*:nL4N2M52FC
    ** Dr. Reddy's Laboratories Ltd  REDY.NS , which is
marketing the vaccine in India, rises as much as 2.96%
    ** REDY has helped run a small domestic trial to test the
vaccine's safety and ability to generate an immune response
    ** India has so far used two vaccines, one developed by
AstraZeneca  AZN.L  and Oxford University, and the other by
domestic firm Bharat Biotech
    ** Shares of Panacea Biotec Ltd  PNCA.NS  surge 9%; The
company will produce 100 mln doses of Sputnik V vaccine annually
    ** Strides Pharma Science Ltd  SRID.NS , whose unit Stelis
Biopharma will make at least 200 mln doses of the vaccine, rises
3.8%
    ** Gland Pharma Ltd  GLAD.NS  up 1.7%; The company will make
up to 252 mln doses of the vaccine
    ** India on Monday overtook Brazil to become the nation with
the second highest number of COVID-19 infections worldwide after
the United States
    ** India is battling a second wave of infections, having
given about 105 mln doses among a population of 1.4 bln
 urn:newsml:reuters.com:*:nL1N2M507A
    ** Sputnik V, developed by Moscow's Gamaleya Institute, has
proved 91.6% effective against COVID-19 and has been approved
for use in more than 50 countries
    ** As of last close so far this year, REDY down 4%, GLAD and
PNCA up between 7.81% and 10.36%, SRID down about 1%

 (Reporting by Nallur Sethuraman and Rama Venkat in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (Within U.S.
1-646-223-8780, Outside U.S. +91 8067496031); Reuters Messaging:
nallur.sethuraman.thomsonreuters.com@reuters.net))