COVID vaccine: RDIF seeks Sputnik V speedy registration, prequalification from WHO

New Delhi: The Russian Direct Investment Fund, the country's sovereign wealth fund, has submitted applications to the World Health Organisation (WHO) for accelerated registration and prequalification of Sputnik V, the world's first registered vaccine against the coronavirus.

Russia has become one of the first countries to apply to WHO for prequalification of its vaccine against the novel coronavirus infection. The Prequalification of Medicines Programme is a United Nations programme managed by WHO and the only global medicines quality assurance programme.

The WHO prequalification of medicines assesses the quality, safety and efficacy of medicines. A medicinal product is included in the list of prequalified medicinal products subject to compliance with established requirements and standards of WHO.

In the face of the ongoing pandemic, accelerated vaccine registration under the Emergency Use Listing procedure will make the Russian vaccine available globally in a shorter time frame than usual procedures and will support global efforts to prevent the coronavirus infection.

Successful prequalification will enable Sputnik V to be included in the list of medicines used by international procurement agencies and countries to guide bulk purchasing of medicines.

Kirill Dmitriev, CEO of the Russian Direct Investment Fund, said: "The Russian Federation was the first in the world to register a vaccine against the coronavirus, Sputnik V, which was created on a safe, effective and well-studied platform of human adenoviral vectors. We have submitted an application for Emergency Use Listing and prequalification of the vaccine by the World Health Organisation, which will allow Sputnik V to be included in the list of medical products that meet leading quality, safety and efficacy standards."

The RDIF is Russia's sovereign wealth fund established in 2011 to make equity co-investments, primarily in Russia, alongside reputable international financial and strategic investors.

RDIF acts as a catalyst for direct investment in the Russian economy. RDIF's management company is based in Moscow. Currently, RDIF has experience of the successful joint implementation of more than 80 projects with foreign partners totalling more than 1.9 tn rubles and covering 95 per cent of the regions of the Russian Federation.

RDIF portfolio companies employ more than 800,000 people and generate revenues which equate to more than 6 per cent of Russia's GDP. RDIF has established joint strategic partnerships with leading international co-investors from more than 18 countries that total more than $40 bn.