RDIF has agreed to supply 10 crore doses of the world’s first coronavirus vaccine to Dr Reddy’s Laboratories. However, it wanted to scale up the supply of the vaccine and hence started talks with at least four Indian drug makers, including that of Zydus Cadila.
Cadila Healthcare share price gained over 4 percent intraday on September 18 after media reports indicated that the company is in talks with Russian Direct Investment Fund (RDIF) and Zydus Cadila to bring coronavirus vaccine "Sputnik V" to India.
RDIF and Dr Reddy’s Laboratories have joined hands in clinical trials and distribution of "Sputnik V" in India. The Indian drugmaker would also conduct Phase-3 clinical trials in the country for the vaccine, according to a Financial Express report.
“RDIF has agreed to supply 10 crore doses of the world’s first coronavirus vaccine to Dr Reddy’s Laboratories. However, it wanted to scale up the supply of the vaccine and hence started talks with at least four Indian drug makers, including that of Zydus Cadila. In fact, the Gujarat based company is in advance stages of talks with RDIF,” said the sources.
The stock was trading at Rs 411, up Rs 16.80, or 4.26 percent. It has touched a 52-week high of Rs 412. It also witnessed a spurt in volume by more than 2.22 times and was trading with volumes of 340,561 shares, compared to its five day average of 162,618 shares, an increase of 109.42 percent.
Also, in an exchange filing, Zydus Cadila said that it has received final approval from the USFDA to market Potassium Chloride ExtendedRelease Tablets (US RLD: K-Dur Extended-Release Tablets) in the strengths of 10 mEq (750 mg) and 20 mEq (1500 mg).
The medication is a mineral supplement used to treat or prevent low amounts of potassium in the blood and will be manufactured at the group’s formulation manufacturing facility at the SEZ, Ahmedabad. The group now has 301 approvals and has so far filed over 390 ANDAs since the commencement of the filing process in FY 2003-04, the company added.Disclaimer: The above report is compiled from information available on public platforms. Moneycontrol advises users to check with certified experts before taking any investment decisions.