Cadila Healthcare has gained to a new high on the commencement of the next phase of H1N1 drug by Zydus Cadila.
The stock opened at Rs 805 and gained 2% to a new high of Rs 813. It is now trading with a 1.4% gain at Rs 810. Around 1,214 stocks have been traded on the BSE so far.
Pharma major Zydus Cadila has started the phase II and III of the clinical trials of its H1N1 vaccine as the first company in the country, while its competitors are close on its heels to come up with respective vaccines.
The demand for the H1N1 vaccine is expected to be around 60-80 million doses in India, and that the company would focus on marketing the product in India initially.
