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Dr Reddy's Lab share price gains 4% on plans to launch Sputnik V by early June

The share touched a 52-week high of Rs 5,514.65 and a 52-week low of Rs 3,588.25 on 21 September, 2020 and 09 April, 2020, respectively.

April 20, 2021 / 12:52 PM IST
 
 
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Dr Reddy's Laboratories share price gained more than 4 percent intraday on April 20 after the company said it is going to roll out the Sputnik V COVID-19 vaccine by May-end or early June.

Dr Reddy's Laboratories is expecting to roll out the Sputnik V COVID-19 vaccine by May-end or early June, the company's co-chairman and MD, GV Prasad, said on April 20.

The Indian drug regulator had approved the Russian-made vaccine for emergency use earlier this month.

Dr Reddy's has tied up with the Russian Direct Investment Fund (RDIF) to import and sell the jab in India.

"We are doing our best to accelerate the import. We hope to get products launched in this quarter itself. We have worked out the cold chain and logistics are in place. We are talking to RDIF to accelerate the shipments here," GV Prasad told CNBC TV-18.

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"This was needed for the country. I applaud the government for the move. There will be a rise in availability and more private organisations will set up vaccination centres," Prasad said.

At 12:16 hrs, Dr Reddy’s Laboratories was quoting at Rs 5,198.80, up Rs 228.25, or 4.59 percent on the BSE.

The share touched a 52-week high of Rs 5,514.65 and a 52-week low of Rs 3,588.25 on 21 September, 2020 and 09 April, 2020, respectively.

Currently, it is trading 5.73 percent below its 52-week high and 44.88 percent above its 52-week low.
Moneycontrol News
first published: Apr 20, 2021 12:52 pm

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