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Drug major Dr Reddy’s Laboratories on Friday announced the launch of the Sputnik V vaccine in the domestic market. Shares of the company traded 0.70% higher at Rs 5339.15 after the announcement, while the benchmark BSE Sensex traded nearly 160 points, or 0.33%, lower at 48,531.
The company said that the first consignment of imported doses of the Sputnik V vaccine that landed in India on May 1, received regulatory clearance from the Central Drugs Laboratory, Kasauli, on May 13.
“The soft launch of the vaccine has commenced and the first dose of the vaccine was administered in Hyderabad on May 14,” Dr Reddy’s said in a regulatory filing.
Further consignments of imported doses are expected over the upcoming months. Subsequently, supply of the Sputnik V vaccine will commence from Indian manufacturing partners, it added.
At present, the imported doses of the vaccine priced at Rs 948 plus 5% GST per dose, with the possibility of a lower price point when local supply begins.
GV Prasad, Co-Chairman and Managing Director, said: “With the rising cases in India, vaccination is our most effective tool in our battle against Covid-19. Contributing to the vaccination drive in India is our biggest priority right now to help Indians be healthy and safe.”