Russia’s sovereign wealth fund has finalised a deal to supply 100 million doses of its COVID19 vaccine, Sputnik-V, to Indian drug firm Dr Reddy’s Laboratories.

The Russian Direct Investment Fund (RDIF) revealed this on Wednesday as Russia speeds up plans to distribute the vaccine abroad.

According to media reports, RDIF reached an agreement with Dr Reddy’s to produce 300 million doses of the vaccine in India.

Dr Reddy’s, one of India’s top pharmaceutical companies, will carry out Phase III clinical trials of the vaccine in India, pending regulatory approval, RDIF said in a statement.

The Fund said the deliveries to India could begin in late 2020; however, this is subject to the completion of trials and the vaccine’s registration by regulatory authorities in India.

Russia was the first country to license a COVID19 vaccine before large-scale Phase III trials were complete, stirring concern among scientists and doctors about the safety and efficacy of the shot.

The Phase I and II results had shown promise, GV Prasad, co-chairman of Dr Reddy’s was quoted in the RDIF statement as saying.

“Sputnik V vaccine could provide a credible option in our fight against COVID-19 in India,” Prasad said.

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