News > Shilpa Medicare soars after tie up with Dr. Reddy's for Sputnik V vaccine

Shilpa Medicare soars after tie up with Dr. Reddy's for Sputnik V vaccine

Business Standard | 17/05/2021 11:20 AM | Click to read full article

Shilpa Medicare rallied 10.46% to Rs 503 after the company said it has entered into a three-year definitive agreement with Dr Reddy's Laboratories for production and supply of the Sputnik V vaccine.

Shilpa Biologicals will be responsible for the manufacture of the vaccine, while DRL is responsible for the distribution/marketing of the vaccine in its marketing territories. The companies are also exploring the option to manufacture Sputnik Light, a single-dose version of the vaccine in the near future.