Morepen Laboratories & RDIF announce production of the test batch of Sputnik V in India

The Russian Direct Investment Fund (RDIF), and Morepen Laboratories, today announced the production of the test batch of the Russian Sputnik V coronavirus vaccine in an exclusive facility in state of Himachal Pradesh (HP) 

To date, Sputnik V has been registered in 67 countries globally with a total population of over 3.5 bn people. 

Reacting to this, the company’s stock today increased by 15.30 per cent and made an intraday high of Rs 75 per share. The stock of the company has increased by 226 per cent from its decline in July 2020. 

Morepen is a leading manufacturer of high-quality APIs, Home Diagnostics, Formulations and OTC products in India since last 35 years. All the manufacturing facilities of the company are in the state of Himachal Pradesh. 

According to BSE data, the stock traded at a P/E multiple of 31.05 and a price-to-book ratio of 6.58. The stock has a 52-week high and a 52-week low of Rs 75 and Rs 19.30, respectively. 

At the time of market closing, the stock of the company was trading at Rs 71.50, up by 9.92 per cent on BSE.