Russia inks deal with Dr. Reddy's for Sputnik V trial in India, to provide 300 million doses of the vaccine

The Russian Direct Investment Fund (RDIF), Russia's sovereign wealth fund has inked a deal with Indian drug company Dr. Reddy's Laboratories to conduct a clinical trial and distribution of Sputnik V in India.

Dr Reddy's Laboratories Limited is a global pharmaceutical company headquartered out of India.

The deal reportedly comes after the Russian Direct Investment Fund (RDIF) reached agreements with Indian manufacturers to supply 300 million doses of the vaccine in India, which is a major consumer of Russian oil and arms.

"We will be conducting Phase-III trials in India to ensure safety and efficacy for the Indian population and to meet the requirements of the Indian regulators. Sputnik V vaccine could provide a credible option in our fight against COVID 19 in India," Dr Reddy's Laboratories Co-Chairman and MD GV Prasad informed.

As Moscow speeds up plans to distribute its shot abroad, both the trials and supply deal depend on central drug regulator's approval. If the trials are successful, the vaccine will be available in India by the end of this year.

It is to be mentioned that Russia was the first country to license a novel coronavirus vaccine before large-scale Phase III trials were complete.

ALSO WATCH: #NewsMakers: Doctors Speak on Rising COVID cases in Assam and Unlock 4.0