Russia's sovereign wealth fund on Wednesday has agreed and approved to supply India 100 million doses of coronavirus vaccine Sputnik – V, the fund announced.
The vaccine will be given to the Indian drug company Dr.Reddy's Laboratories.
This decision came up as Russia "speeds up plans to distribute its shot abroad," a Times Of India report stated.
The deal comes after the Russian Direct Investment Fund (RDIF) reached agreements with India, the report added.
Dr. Reddy's will conduct the phase III of the clinical trials of the vaccine which currently pending approval from the drug regulatory approval, the Russian statement said. If approved the deliveries will be made by the end of 2020.
There was no detail about the price of the vaccine but RDIF has said they don't intent to make any profits except for covering the costs.
Sputnik V could be registered as the first vaccine against coronavirus globally. Over 40,000 people have been part of the human trials however the entire human trials' process is yet to be completed.
