(RTTNews) – Dr. Reddy’s Laboratories Ltd. (RDY) and The Russian Direct Investment Fund (RDIF), Russia’s sovereign wealth fund, 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. Deliveries could potentially begin in late 2020.

The Sputnik V vaccine, developed by the Gamaleya National Research Institute of Epidemiology and Microbiology, is the world’s first registered vaccine against COVID-19 based on the human adenoviral vectors platform.

G V Prasad, Co-Chairman & Managing Director of Dr. Reddy’s said: “The Phase I and II clinical trials have shown promising results. We will be conducting Phase-III trials in India to ensure safety and efficacy for the Indian population and to meet the requirements of the Indian regulators.”

Russian Direct Investment Fund (RDIF) is Russia’s sovereign wealth fund which allows to make equity co-investments, primarily in Russia, alongside reputable international financial and strategic investors. RDIF acts as a catalyst for direct investment in the Russian economy.