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MarketScreener Homepage  >  Equities  >  MUMBAI STOCK EXCHANGE  >  Dr. Reddy's Laboratories Limited    500124   INE089A01023

DR. REDDY'S LABORATORIES LIMITED

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Dr Reddy Laboratories : Russia receives renewed approval for COVID-19 vaccine trials in India -RDIF

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10/17/2020 | 05:30am EDT

MOSCOW, Oct 17 (Reuters) - The Russian Direct Investment Fund (RDIF) and Dr Reddy's Laboratories Ltd have received renewed approval to conduct late-stage clinical trials in India of the Russian COVID-19 vaccine, the sovereign wealth fund said on Saturday.

Large-scale trials of the Sputnik V vaccine in India were first announced and then knocked back by Indian regulators, who said the scale of Phase I and II trials conducted in Russia earlier this year was too small, requesting that they be repeated.

Following a new agreement, India will now carry out an adaptive phase II and III human clinical trial involving 1,500 participants, RDIF, which is marketing the vaccine abroad, said on Saturday.

Under the deal, Dr Reddy's will conduct the clinical trials and, subject to approval, distribute the finished vaccine in India. RDIF will supply 100 million doses to Dr Reddy's.

Russia, the first country to grant regulatory approval for a novel coronavirus vaccine, is also conducting Phase III trials of Sputnik V in Belarus, Venezuela and the United Arab Emirates.

RDIF has reached agreements with Indian manufacturers to produce 300 million doses of the shot.

A Phase III trial involving 40,000 participants is currently underway in Moscow, with 16,000 people having already received the first dose of the two-shot vaccine.

Interim results are expected to be published in early November.

Indian regulators have agreed to incorporate data, provided by Russia on a weekly basis, from the Moscow trial, a source close to the deal told Reuters.

Russia has also reached an agreement with the biotechnology department of India's Science and Technology Ministry to use its laboratories as a base for the Indian clinical trial, the source said.

(Reporting by Polina Ivanova; Writing by Polina Ivanova and Maxim Rodionov; Editing by Kirsten Donovan)


Stocks mentioned in the article
ChangeLast1st jan.
DR. REDDY'S LABORATORIES LIMITED 0.35% 5069.35 End-of-day quote.76.19%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) -0.34% 77.3223 Delayed Quote.25.55%
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Financials
Sales 2021 191 B 2 608 M 2 608 M
Net income 2021 26 025 M 355 M 355 M
Net cash 2021 8 440 M 115 M 115 M
P/E ratio 2021 32,2x
Yield 2021 0,50%
Capitalization 838 B 11 424 M 11 428 M
EV / Sales 2021 4,34x
EV / Sales 2022 3,78x
Nbr of Employees 21 650
Free-Float 69,0%
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Number of Analysts 33
Average target price 5 162,81 INR
Last Close Price 5 051,45 INR
Spread / Highest target 27,7%
Spread / Average Target 2,20%
Spread / Lowest Target -26,8%
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Managers
NameTitle
Erez Israeli Chief Executive & Operating Officer
Saumen Chakraborty President, CFO & Global Head-IT
Satish Kallam Reddy Co-Chairman
Gunupati Venkateswara Prasad Co-Chairman & Managing Director
Kalpana Jaisingh Morparia Independent Non-Executive Director
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