MoscowThe Russian National Sovereign Wealth Fund said on Wednesday that the Russian sovereign wealth fund has agreed to provide 100 million doses of the coronavirus vaccine Sputnik-V to the laboratory of Dr. Reddy, an Indian pharmaceutical company.
The transaction was carried out in the process of producing 300 million doses of vaccine in India after the Russian Direct Investment Fund (RDIF) reached an agreement with an Indian manufacturer. India is a major consumer of Russian oil and weapons.
RDIF said in a statement that Dr. Reddy, one of the top pharmaceutical companies in India, will conduct a phase III clinical trial of the vaccine in India, pending regulatory approval.
It said that deliveries in India may start at the end of 2020, adding that it will depend on the completion of the trial and the registration of the vaccine by the Indian regulatory agency.
Russia is the first country to obtain a new coronavirus vaccine license before the completion of the large-scale phase III trial, which has caused scientists and doctors to worry about the safety and effectiveness of the vaccine.
The RDIF statement quoted Dr. Reddy’s co-chair G V Prasad as saying that the results of the first and second phases showed hope.
He said: “Sputnik V vaccine can provide us with a reliable choice in the fight against COVID-19 in India.”
There are no details on the price of the vaccine, but RDIF previously stated that its purpose is not to make a profit, but to cover the cost.
The agreement comes at a time when India’s coronavirus cases surged to more than 5 million on Wednesday, putting pressure on hospitals, which are facing an unreliable supply of oxygen. They need to use oxygen to treat thousands of people. Critically ill patients.
India is the second country in the world to cross a severe milestone. This week it said that India is considering granting emergency vaccine authorizations for vaccines, especially for the elderly and people in high-risk workplaces.
RDIF has reached vaccine supply agreements with Kazakhstan, Brazil and Mexico. It also signed a memorandum with Saudi Chemical Corporation.
Russia has billed Sputnik-V, saying it is the world’s first vaccine against the coronavirus. A phase III trial involving at least 40,000 people was launched in Russia on August 26, but it has not yet been completed.