Wockhardt share price rises 7% on deal to manufacture Sputnik vaccines

Wockhardt share price rose over 7 percent intraday on August 13 after the pharma company entered into an agreement with Dubai-based Enso Healthcare, and Human Vaccine LLC for manufacturing and supplying Sputnik vaccine against COVID.

The company entered into an agreement with Enso Healthcare DMCC, a company incorporated in Dubai, and Human Vaccine LLC , a wholly-owned subsidiary of the sovereign wealth fund of the Russian Federation (RDIF), for manufacturing and supplying Sputnik V  and Sputnik Light vaccines, Wockhardt said in a release.

The agreement was reached under the aegis of Enso, RDIF's coordination partner for sourcing Sputnik vaccine in India.

Subject to requisite approvals and other conditions, upon successful technology transfer from HV to the company, the company will manufacture and supply to Enso upto 620 million doses of the Sputnik V vaccine and the Sputnik Light vaccine against Covid-19.

At 1148 hours, Wockhardt was quoting at Rs 516.30, up Rs 27, or 5.52 percent on the BSE.

The share touched a 52-week high of Rs 804.50 and a 52-week low of Rs 266 on May 26, 2021 and September 24, 2020, respectively. It is trading 35.82 percent below its 52-week high and 94.1 percent above its 52-week low.