Bengaluru-based Stelis Biopharma has joined hands with the Russian Direct Investment Fund (RDIF), Russia's sovereign wealth fund, to produce 200 million doses of Sputnik V COVID-19 vaccine for India.

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“The deal between RDIF and Stelis Biopharma was reached under the aegis of Enso Healthcare LLP, RDIF's coordination partner for sourcing Sputnik V vaccines in India,” said a joint statement issued by the two companies.

According to the statement, the vaccine supplies will be commenced from Q3 of the calendar year 2021. Also, Stelis will continue to work with the RDIF to provide additional supply volumes beyond the initial deal, it said.

According to the recent Lancet study, the vaccine has demonstrated a 91.6 percent efficacy rate against the virus.

The vaccine has been developed by Moscow's Gamaleya Institute and is one of the three coronavirus vaccines approved for use in Russia.

Commenting on the deal, Kirill Dmitriev, chief executive director of the RDIF, said, “The significant vaccine volumes which will be produced jointly with Stelis will help to widen access to the vaccine on a global scale”.

Stelis Biopharma is part of the Strides Pharma Group.

Just a few days ago Gland Pharma, another Hyderabad-based company, inked a deal to supply over 250 million doses of Sputnik V vaccine.

Also Read: Gland Pharma to supply Sputnik V COVID-19 vaccine

Dr. Reddy's Laboratories already has a tie-up for the distribution of Sputnik V Phase 3 trials for the coronavirus vaccine is currently being carried out by Dr. Reddy's.

First Published:Mar 20, 2021 1:57 PM IST