Business News: India Covid-19 Vaccines -Gland Pharma, a Hyderabad-based pharmaceutical company has closed in a deal with Russia Direct Investment Fund, (Russia’s sovereign funding organization that directs Russian money into leading and growing institutional sectors of the world) to produce Russia’s Sputnik V vaccine in India.
RDIF has also signed up many deals with other significant Indian pharmaceutical companies to ramp up the production and distribution of the Russian vaccine throughout the world. Gland Pharma has agreed to produce about 252 million doses of Sputnik V, the company will start production in the third quarter and will supply by the fourth quarter.
Other Indian pharma companies include a Bengaluru-based Stride Pharma Science is also poised to close a deal to manufacture vaccines and another company Hetero Drugs is also in line to produce vaccines, which will produce 100 million doses.
After the news of tie up broke out, Gland Pharma’s share has jumped above 7% at Rs. 2,784. Gland Pharma will undertake a transfer of technology deal under which details of drug substances will be shared with the company to produce here. Gland Pharma was started in 1978 by a chemist named P.V.N Raju and the company was procured by China’s Fosun Pharmaceuticals, buying 74% shares at $1 billion in October 2017.
RDIF has setup a goal of producing and distributing Sputnik V vaccines at least from 500 million to 1 billion doses. RDIF has also inked deals with many other nations including China, Brazil, South Korea and Hungary, sais RDIF CEO Kirill Dimitriev in November.
The company will produce the vaccine in certain dry and frozen so as to transport and preserve the vaccine for certain period of time. The frozen variant is called a lyophilized version where vaccine is frozen at 2-8 degrees and removing ice from it. Another variant is where the vaccine dehydrated by evaporating water from it.
The Sputnik V vaccine has reported to have a 91.5% efficacy in trials, which is way higher than AstraZeneca Covishield’s overall 64% efficacy. The Sputnik V vaccine was created by Gamaleya National Research Institute of Epidemiology and Microbiology in Russia. It was the first company in the world to register for COVID-19 vaccine.