Skip to content
Search AI Powered

Latest Stories

India's Hetero to produce 100m doses of the Russian Sputnik V Covid-19 vaccine

INDIAN drug firm Hetero will produce 100 million doses of the Russian Sputnik V Covid-19 vaccine per year, the Russian Direct Investment Fund (RDIF) said on Friday(27).

It added that the production is expected to start in early 2021.


The RDIF statement said Phase II-III clinical trials were still under way in India. Trials to gauge safety and efficacy of the vaccine are also continuing in Russia.

The phase III clinical trials of the vaccine were also under way in Belarus, the UAE, Venezuela and other countries.

Russian authorities, however, gave Sputnik V their regulatory approval under an accelerated procedure in August.

"While we look forward to the clinical trial results in India, we believe that manufacturing the product locally is crucial to enable swift access to patients," said B Murali Krishna Reddy, Hetero's director of international marketing.

Another Indian drugmaker, Dr Reddy's Laboratories Ltd , is conducting clinical trials of Sputnik V in India, and has said it expects late-stage trials to be completed by March 2021.

RDIF has spoken of Dr Reddy's being involved with distribution once Sputnik V gets regulatory approval in India.

Kirill Dmitriev, RDIF head, said earlier this week that Moscow and its foreign partners had the capacity to make more than a billion doses of Sputnik V starting from next year -- enough to vaccinate over 500 million people -- and that it would cost under $20 per person on international markets.

Besides India, the Sputnik V vaccine will also be produced in Brazil, China and South Korea.

The RDIF and the Gamaleya National Center has recently claimed that interim clinical trial data had shown that Sputnik V was 91.4 per cent effective on day 28 and over 95 per cent effective on day 42.

India's tally of Covid-19 infections stands at 9.27 million, the second-highest in the world after the US, with more than 135,000 deaths.

More For You

UK to lead European growth in 2025, predicts IMF

FILE PHOTO: A view of the Bank of England and the financial district, in London, Britain. REUTERS/Mina Kim.

UK to lead European growth in 2025, predicts IMF

BRITAIN is set to have the fastest growth among major European economies this year, according to the International Monetary Fund, a boost to finance minister Rachel Reeves who is under pressure over a slowdown since her party came to power in July.

The IMF has raised its forecast for British growth for 2025 by 0.1 percentage points to 1.6 per cent, making it the third-strongest among the Group of Seven advanced economies after the US and Canada.

Keep ReadingShow less
Reliance Industries

Revenue from operations rose 6.97 per cent year-on-year to £22.99 bn, with growth seen across all divisions. (Photo: Reuters)

REUTERS

Reliance Industries reports 7.38 per cent rise in quarterly profit

RELIANCE INDUSTRIES reported a 7.38 per cent year-on-year increase in profit for the December quarter on Thursday, driven by growth in its consumer-focused divisions.

The company, led by Mukesh Ambani, remains India’s most valuable by market capitalisation.

Keep ReadingShow less
India faces growth challenge
as global uncertainty mounts

Narendra Modi (left) and Nirmala Sitaraman

India faces growth challenge as global uncertainty mounts

AFTER world-beating economic growth last year, India’s policymakers are scrambling to prevent a sharp slowdown as worsening global conditions and declining domestic confidence undo a recent stock market rally.

Last Tuesday (7), Asia’s third-largest economy forecast 6.4 per cent annual growth for the fiscal year ending in March, the slowest in four years and below initial projections, weighed down by weaker investment and manufacturing.

Keep ReadingShow less
Tata Consultancy sees 5.6 per cent rise in revenue despite market challenges

Chief executive and managing director of TCS K Krithivasan

Tata Consultancy sees 5.6 per cent rise in revenue despite market challenges

INDIAN IT giant Tata Consultancy Services (TCS) posted a 5.6 per cent on-year rise in revenue for the December quarter last Thursday (9), after lower earnings in its key North American market.

The leader of India’s $254 billion (£208.4bn) IT sector, TCS is the second-largest company in India by market capitalisation and earns over 80 per cent of its revenue from Western clients.

Keep ReadingShow less
UK-GDP
The Canary Wharf business district including global financial institutions seen on June 22, 2023 in London. (Photo: Getty Images)

GDP rises just 0.1 per cent in November following Reeves’ budget

THE ECONOMY grew by 0.1 per cent in November, marking a slight recovery after contractions in September and October, according to data from the Office for National Statistics (ONS).

This modest increase followed chancellor Rachel Reeves’ October budget, which introduced significant tax hikes for businesses. However, the growth was weaker than the 0.2 per cent rise expected by economists.

Keep ReadingShow less