The scrip, which had zoomed 12 per cent on Monday to Rs 509. 55, jumped another 13 per cent on Tuesday to Rs 574.9. In five consecutive sessions, the counter has surged 30 per cent.
“The company, via its wholly-owned subsidiary Shilpa Biologicals Pvt Ltd (SBPL), has entered into a three-year definitive agreement with Dr Reddy’s Laboratories for production-supply of the Sputnik V vaccine from its integrated biologics R&D cum manufacturing center at Dharwad, Karnataka,” according to a regulatory filing by Shilpa Medicare on Monday.
Shilpa Medicare said Dr Reddy’s will facilitate the transfer of Sputnik technology to SBPL. Under the agreement, SBPL will be responsible for the manufacturing of the vaccine and Dr Reddy’s for the its distribution and marketing.
“The companies are also exploring the option to manufacture Sputnik Light, a single dose version of the vaccine in the near future. This is very positive news for the Shilpa Medicare,” said Yash Gupta, Equity Research Associate, Angel Broking.
The vaccine is priced at Rs 948 per dose with five per cent GST (retail price of Rs 995.40). Only three vaccines have so far been approved to be sold in India: Covexin, Covishield and Sputnik V.
