Shilpa Medicare jumps 26% in 2 days on tie-up with DRL for Covid vaccine

The company has entered into a three-year Definitive Agreement with Dr. Reddy's for production-supply of the Sputnik V vaccine

Shares of Shilpa Medicare rose 13 per cent to Rs 574.90 on the BSE in intra-day trade on Tuesday, up 26 per cent in the past two trading days, after the company on Monday said that it has tied up with Dr. Reddy's Laboratories for production of Sputnik V, a two-dose Covid-19 vaccine.

“Shilpa Medicare, via its wholly-owned subsidiary Shilpa Biologicals Private Limited (SBPL), has entered into a three-year Definitive Agreement with Dr. Reddy's Laboratories Limited (DRL) for production-supply of the Sputnik V vaccine from its integrated biologics R&D cum manufacturing centre at Dharwad, Karnataka,” the company said in an exchange