Russia's Sputnik V vaccine, which has been imported from Russia, will cost Rs 995 per shot in India, Dr Reddy's Laboratories Ltd, which has partnered with Russia's sovereign wealth fund, Russian Direct Investment Fund (RDIF), said on Friday. Dr Reddy's said the soft launch of the vaccine has commenced and the first dose of the vaccine was administered in Hyderabad today. The price of the vaccine could reduce as Reddy's will start making the Russian vaccine in India.
"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," GV Prasad, Co-Chairman and Managing Director, said.
As per the homegrown pharma giant, more consignments of imported doses are expected over the upcoming months, following which the vaccine manufacturing will start in India. "Subsequently, supply of the Sputnik V vaccine will commence from Indian manufacturing partners. The imported doses of the vaccine are presently priced at an MRP of Rs 948 + 5% GST per dose, with the possibility of a lower price point when local supply begins," the statement added.
The company is working closely with its six manufacturing partners in India to fulfill regulatory requirements to ensure smooth and timely supply. Dr Reddy's will work closely with stakeholders in the Centre and private sector in India to ensure the widest possible reach of the Sputnik V vaccine as part of the national inoculation effort, the company said.
Meanwhile, the central government has said the Russian vaccine will be available in the India market from next week. Sputnik V is the third vaccine to be rolled out in India after Serum Institute's Covishield and Bharat Biotech's Covaxin.
"I'm happy to say that we're hopeful that it'll be available in the market next week. We're hopeful that the sale of the limited supply that has come from there (Russia), will begin next week," Niti Aayog member VK Paul said on Thursday. India is aiming at producing 15.6 crore Sputnik V doses by December, which will help India fight the coronavirus pandemic.
Meanwhile, Dr Reddy's Lab stock is down 0.73 per cent or Rs 38.45 at Rs 5,263 on the National Stock Exchange today.