Moscow, September 16: The Russian Direct Investment Fund on Wednesday confirmed reaching an agreement to supply 100 million doses of Russian COVID-19 vaccine Sputnik V to India's Dr. Reddy's Laboratories.

"The RDIF, Russia's sovereign wealth fund, and Dr. Reddy's Laboratories Ltd. (Dr. Reddy's), a global pharmaceutical company headquartered out of India, have agreed to cooperate on clinical trials and distribution of Sputnik V vaccine in India. Upon regulatory approval in India, RDIF shall supply to Dr. Reddy's 100 million doses of the vaccine," Sputnik quoted the RDIF's press release. Deliveries could start in late 2020, the release added. COVID-19 Vaccine Update: Russia to Sell 100 Million Doses of Sputnik V to India's Dr Reddy Laboratories.

GV Prasad, Co-Chairman and Managing Director of Dr. Reddy said that the Phase I and II trials results have shown promise, and the company will be conducting Phase III trials in India to meet the requirements of the Indian regulators.

"We are pleased to partner with RDIF to bring the vaccine to India. Phase I and II results have shown promise, and we will be conducting Phase III trials in India to meet the requirements of the Indian regulators. Sputnik V vaccine could provide a credible option in our fight against COVID 19 in India," Dr. Reddy's Co-Chairman and Managing Director GV Prasad said, as quoted in the press release. The RDIF is pleased to reach the agreement with the Indian company, the RDIF CEO Kirill Dmitriev said.

"Dr. Reddy's has had a very well established and respected presence in Russia for over 25 years and is one of the leading pharmaceutical companies in India," he said

"India is amongst most severely impacted countries from the novel coronavirus and we believe our human adenovirus dual vector platform will provide a safe and scientifically validated option to India in the battle against COVID 19. RDIF partners will receive an effective and safe drug to fight the coronavirus," he added. COVID-19 Vaccine Update: China, UAE Report Positive Results in Phase 3 Trials.

Last week, the Russian Health Ministry announced that the first batch of Sputnik V vaccine against COVID-19 has been released into civil circulation.

The Russian health ministry registered the first vaccine against COVID-19, named Sputnik V, on August 11.