Dr. Reddy’s Laboratories Limited [NYSE: RDY] declared Monday that it has received the Emergency Use Authorization in India for Sputnik V. After the authorization, Dr. Reddy’s is now able to import Sputnik vaccine into India for limited use in crisis situations as per the requirements of the New Drug and Clinical Trials rules, 2019 under the Drugs and Cosmetics Act.
Previously, in 2020 Dr. Reddy has joined forces with the Russian Direct Investment Fund (RDIF) to carry out the clinical trials of Sputnik V and disseminate the vaccine in India. Additionally, RDIF has carried out the trials in Russia and Dr. Reddy’s has carried out the Phase II / III clinical studies of the vaccine in India.
Shares of Dr. Reddy’s soared 3.02% at +1.93 during the trading session of Monday. In the past 52-weeks of the trading session, the firm’s share fluctuated $48.10 between the 52-week low range and $73.50 from its 52-weeks high range. Looking at its liquidity, it has a current ratio of 1.80 and a quick ratio of 1.20. Dr. Reddy’s has a total market capitalization of $10.78 billion at the time of writing.
About Sputnik V
Sputnik V utilizes two different vectors for the two shots in a course of vaccination. The potency of Sputnik V was created to be 91.6% as per a released article in the Lancet, one of the world’s oldest and most recognized medical journals. Sputnik V has now received approval for use in 60 countries all around the globe. It places second among coronavirus vaccines internationally in terms of the number of authorizations published by government watchdogs.