Russia agrees to produce coronavirus vaccine Sputnik V in India

MOSCOW, Nov 27 (Reuters) - Russia's sovereign wealth fund and Indian pharmaceutical company Hetero have agreed to produce over 100 million doses per year in India of the Sputnik V vaccine against COVID-19, according to a statement on the Sputnik V Twitter account on Friday.

Hetero and the Russian Direct Investment Fund (RDIF), which has been backing the vaccine and marketing it globally, plan to start production of Sputnik V in India at the beginning of 2021, the statement said.

Phase II-III trials are ongoing in India, the statement said. Drugmaker Dr Reddy's Laboratories Ltd has said it expects late-stage trials to be completed by as early as March 2021. (Reporting by Polina Nikolskaya, writing by Maria Kiselyova; editing by Alexander Marrow)