Dr Reddy's Labs Share Price: The stock rose to as high as Rs 5,213.50 on the BSE during the session
Hyderabad-based Dr Reddy's Laboratories shares gained nearly 3 per cent on Monday after the drug maker received a regulatory nod to conduct clinical trials for Russia's Sputnik V COVID-19 vaccine in India. The Dr Reddy's stock price rose by Rs 131.15 to Rs 5,213.50 apiece on the BSE at the strongest level during the session, having begun the day stronger at Rs 5,202 compared to its previous close of Rs 5,082.35. (Track Dr Reddy's Laboratories Shares | Track Sensex, Nifty Here)
In a regulatory filing on Saturday, Dr Reddy's said it and Russia's sovereign wealth fund, Russian Direct Investment Fund (RDIF), received approval from the Drug Control General of India (DCGI) to conduct an adaptive phase 2/3 human clinical trial for the Sputnik V vaccine in India.
This will be a multicenter and randomized controlled study, which will include safety and immunogenicity study, Dr Reddy's said.
In September, Dr Reddy's Laboratories and RDIF had entered into a partnership to conduct clinical trials of the vaccine and its distribution in India. RDIF will supply 100 million doses of the vaccine to Dr Reddy's Laboratories as part of the agreement.
In August, the Sputnik V vaccine became the world's first registered vaccine against COVID-19 based on the human adenoviral vectors platform.
Sputnik V is currently undergoing phase 3 clinical trial in Russia and the proposed number of subjects is 40,000. Additionally, phase 3 clinical trial of the vaccine has commenced in the UAE last week.
The vaccine is developed by the Russian government's Gamaleya National Research Institute of Epidemiology and Microbiology, and registered by the Ministry of Health of Russia.
At 11:50 am, Dr Reddy's Labs shares traded flat at Rs 5,083 on the bourse, underperforming the benchmark S&P BSE Sensex index which was up 0.90 per cent led by gains in banking, energy and consumer goods stocks.
