Wockhardt jumped 5.1% to Rs 514.25 after company entered into agreement with Dubai-based Enso Healthcare for manufacture & supply for Sputnik vaccine.
Wockhardt entered into an agreement with Enso Healthcare DMCC and Human Vaccine LLC for the manufacture and supply of the Sputnik V / Sputnik Light vaccine against Covid-19.Enso Healthcare DMCC, is a company incorporated in Dubai, UAE while Human Vaccine LLC is a wholly owned subsidiary of the Management Company of Russian Direct Investment Fund, the sovereign wealth fund of the Russian Federation.
The agreement between Wockhardt, Human Vaccine and Enso was reached under the aegis of Enso, RDIF's coordination partner for sourcing Sputnik vaccine in India.
As per the contract, Wockhardt will will manufacture and supply upto 620 million doses of Sputnik V and Sputnik Light to Enso upto June 2023. The contract is initially upto 30 June 2022 which may be further extended upto 30 June 2023 subject to the terms of the contract.
Wockhardt is a research based global pharmaceutical and biotech company. The company's net loss (from continuing operations) contracted to Rs 48.69 crore in Q1 FY22 compared with net loss of Rs 218.94 crore in Q1 FY21. Revenue from operations (from continuing operations) soared 57.08% to Rs 278.95 crore in Q1 FY22 over Q1 FY21.
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