Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ News / World/  Russia dubs its first Covid-19 vaccine 'Sputnik V' after Soviet satellite
BackBack

Russia dubs its first Covid-19 vaccine 'Sputnik V' after Soviet satellite

Putin said on Tuesday that Russia had become the first country in the world to grant regulatory approval to a COVID-19 vaccine after less than two months of human testing
  • The vaccine’s registration is conditional and trials will continue while production gets underway, said Health Minister
  • A scientist prepares samples during the research and development of a vaccine against the coronavirus disease (COVID-19) at a laboratory of BIOCAD biotechnology company in Saint Petersburg, Russia (REUTERS)Premium
    A scientist prepares samples during the research and development of a vaccine against the coronavirus disease (COVID-19) at a laboratory of BIOCAD biotechnology company in Saint Petersburg, Russia (REUTERS)

    Moments after announcing the launch of world's first coronavirus vaccine today, Russia has now dubbed its new Covid-19 vaccine "Sputnik V" after the Soviet satellite, the head of the country's sovereign wealth fund said Tuesday. The vaccine is developed jointly by Gamaleya Research Institute and the Russian Defence Ministry.

    Amid the race to develop a Covid-19 vaccine, President Vladimir Putin said on Tuesday that Russia had become the first country in the world to grant regulatory approval to a COVID-19 vaccine after less than two months of human testing, a move hailed by Moscow as evidence of its scientific prowess.

    He emphasized that the vaccine underwent the necessary tests. He added that one of his two daughters has received a shot of the vaccine and is feeling well, according to Associated Press reports.

    However, the vaccine’s registration is conditional and trials will continue while production gets underway, said Health Minister Mikhail Murashko.

    Murashko also added that the first Russian vaccine against the coronavirus will begin to be produced at two sites - the Gamaleya Research Institute and the company Binnopharm.

    "The two-stage injection plan helps form a lasting immunity. The experience with vector vaccines and two-stage scheme shows that immunity lasts for up to two years", the Health Ministry said, as reported by Sputnik News.

    Moreover, Kirill Dmitriev, the head of the Russian Direct Investment Fund which finances the vaccine project, said Phase 3 trials would start on Wednesday, industrial production was expected from September and that 20 countries had pre-ordered more than a billion doses, according to AFP reports.

    He said that along with foreign partners Russia was ready to manufacture 500 million doses of vaccine per year in five countries.

    Dmitriyev also denounced "coordinated and carefully orchestrated media attacks" designed to "discredit" Russia's vaccine.

    Moreover, the president has tasked the government with ensuring funding for flu and coronavirus vaccination after vaccines are registered, noting that up to 60% of Russians should be vaccinated against flu.

    Currently, WHO and Russian health authorities are discussing the process for possible WHO prequalification for its newly approved COVID-19 vaccine, a WHO spokesman said today.

    "We are in close contact with Russian health authorities and discussions are ongoing with respect to possible WHO prequalification of the vaccine, but again prequalification of any vaccine includes the rigorous review and assessment of all required safety and efficacy data," WHO spokesman Tarik Jasarevic told a U.N. briefing in Geneva, referring to clinical trials, according to Reuters.

    A total of 165 candidate vaccines are being worked on around the world, according to the latest WHO overview produced on July 31.

    Of those, 139 are still in pre-clinical evaluation, while the other 26 are in the various phases of being tested on humans, of which six are the furthest ahead, having reached Phase 3 of clinical evaluation.

    With inputs from agencies

    Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

    Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
    More Less
    Published: 11 Aug 2020, 04:45 PM IST
    Next Story footLogo
    Recommended For You
    Switch to the Mint app for fast and personalized news - Get App