Sensex Opens Lower; IndusInd Bank & Bajaj Finance Fall 3%

Moving on to stock-specific news...

Dr Reddy's Laboratories is among the top buzzing stocks today.

An expert panel of India's central drug authority has sought additional data and information from Dr Reddy's Laboratories, which has sought emergency use authorization for the Russian COVID-19 vaccine Sputnik V while deferring its decision on it till the next meeting.

In light of a February 24 meeting of the Subject Expert Committee (SEC) on COVID-19 of the Central Drugs Standard Control Organisation (CDSCO), the firm presented the interim safety and immunogenicity data of the Gam-COVID-Vac combined vector vaccine generated in the country, along with the interim data from the ongoing Russian study.

The SEC recommended that the firm should present data pertaining to all immunogenicity parameters, unblinded data of serious adverse events, and RT-PCR positive cases, along with causality analysis reported to date for further examination.

Note that on February 19, Dr Reddy's had approached drug regulator DCGI for emergency use authorization (EUA) for Sputnik V.

In September last year, Dr Reddy's partnered with the Russian Direct Investment Fund (RDIF) to conduct the clinical trials of Sputnik V and for its distribution rights in India.

The DCGI has already given the EUA nod to two COVID-19 vaccines - Covaxin of Bharat Biotech and Covishield of Oxford-AstraZeneca, being manufactured by the Serum Institute of India in Pune.

Dr Reddy's Lab share price has opened the day down by 1%.

Here's interesting data on Dr. Reddy's Lab, investing just Rs 100,000 in Dr. Reddy's Labs in 1992, it would have given a whopping Rs 4.89 crores in 2014!

Profit Opportunities in the Rebirth of India

 

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Disclosure: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research ...

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