Thursday , October 21 2021

Shilpa Medicare zooms as its arm ties up with Dr. Reddy’s for production of Sputnik V vaccine

Shilpa Medicare is currently trading at Rs. 501.30, up by 45.95 points or 10.09% from its previous closing of Rs. 455.35 on the BSE.

The scrip opened at Rs. 462.00 and has touched a high and low of Rs. 516.95 and Rs. 462.00 respectively. So far 143028 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 692.45 on 11-Aug-2020 and a 52 week low of Rs. 317.05 on 19-Mar-2021.

Last one week high and low of the scrip stood at Rs. 516.95 and Rs. 441.35 respectively. The current market cap of the company is Rs. 4028.24 crore.

The promoters holding in the company stood at 53.25%, while Institutions and Non-Institutions held 20.64% and 26.12% respectively.

Shilpa Medicare’s wholly owned subsidiary — Shilpa Biologicals (SBPL) has entered into a 3 year Definitive Agreement with Dr. Reddy’s Laboratories (DRL) for production-supply of the Sputnik V vaccine from its integrated biologics R&D cum manufacturing center at Dharwad, Karnataka. The targeted production of the dual vector Sputnik V for the first 12 months is 50 million doses (50 million of Component 1 and 50 million of component 2), from the date of start of commercial production.

DRL has partnered with HVIRDIF for clinical development of the vaccine and has distribution rights in geographies including India. DRL will facilitate the transfer of the sputnik technology to SBPL. Under the agreement, SBPL will be responsible for manufacture of the vaccine, while DRL is responsible for distribution/marketing of the vaccine in its marketing territories.

Shilpa Medicare produces and exports consistently high-quality Active Pharmaceutical Ingredients Fine Chemicals, intermediates, herbal products and speciality chemical products using sophisticated technology, meticulously following international specifications.

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