Dr Reddy’s Laboratories on Thursday announced that it has partnered with Biotechnology Industry Research Assistance Council (BIRAC), Department of Biotechnology (DBT), Government of India for advisory support on clinical trials of its COVID-19 vaccine, Sputnik V, in India.
With this partnership, Dr Reddy’s Laboratories can identify and use some of BIRAC’s clinical trial centres for the vaccine, which are funded under National Biopharma Mission (NBM) at BIRAC. Moreover, it can also have access to good clinical laboratory practice (GCLP) labs to conduct immunogenicity assay testing of the vaccine.
The collaboration with BIRAC would help accelerate Dr Reddy’s efforts in bringing the vaccine to India.
Earlier this month, Dr Reddy’s and Russian Direct Investment Fund (RDIF) received approval from Drugs Controller General of India (DCGI) to conduct human clinical trials for the Sputnik V vaccine in India.
Read here: https://www.dsij.in/DSIJArticleDetail/ArtMID/10163/ArticleID/15380/Dr-Reddy%E2%80%99s-gets-nod-from-DCGI-for-Sputnik-V-vaccine-trial
On the financial front, the company announced its second-quarter earnings for the financial year 2020-2021. The company recorded consolidated net revenue of Rs 4,896.7 crore, registering a growth of 1.99 per cent YoY. EBITDA for the quarter stood at Rs 1,267 crore, which declined 12 per cent on a YoY basis. The company recorded a consolidated net profit of Rs 762.3 crore in Q1FY21, which declined 30.22 per cent YoY, as against Rs 1,092.5 crore in the corresponding quarter of the previous year.
Today, the stock closed 0.15 per cent down at Rs 4,942.45 on BSE. It recorded an intraday high of Rs 5,041.6. In comparison, S&P BSE Healthcare Index closed down by 0.76 per cent.