Moscow: Dr Reddy's Laboratories and Russian Direct Investment Fund (RDIF) have agreed to cooperate on clinical trials and distribution of Sputnik V vaccine in India.

According to reports, Russia's sovereign wealth fund will supply 100 million doses of the vaccine to Dr Reddy's.

The Sputnik V vaccine, which is based on a well-studied human adenoviral vector platform with proven safety, is undergoing clinical trials for the coronavirus pandemic.

The report added that the deliveries could potentially begin in late 2020 subject to completion of successful trials and registration of the vaccine by regulatory authorities in India.

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The agreement between RDIF and Dr Reddy's reflects growing awareness of countries and organisations to have a diversified anti-COVID vaccine portfolio to protect their populations.

Kirill Dmitriev, Chief Executive Officer of RDIF said that India is among the most severely impacted countries from COVID-19 and we believe our human adenovirus dual vector platform will provide a safe and scientifically validated option to India in the battle against it

GV Prasad, Co-Chairman and Managing Director of Dr Reddy's said Sputnik V vaccine could provide a credible option in our fight against COVID-19 in India.

"The phase one and two clinical trials have shown promising results. We will be conducting phase three trials in India to ensure safety and efficacy for the Indian population," he said in a statement.