Cadila Healthcare jumped 6.20% to Rs 448.55 after the media reported that the company is expected to introduce its Covid-19 vaccine by March next year.
The drug maker will reportedly submit the results of its phase-2 trials next week, which will ascertain the safety, dose and efficacy of the potential vaccine. Subsequently, the company will apply for phase-3 trial which it plans to conduct on 39,000 participants in December. If all goes well, the company expects to introduce the vaccine by March next year, media reports added.The company had reportedly announced partnership with National Biopharma Mission, BIRAC, department of biotechnology, government of India, to develop the plasmid DNA vaccine candidate, ZyCoV-D.
"With ZyCoV-D, Zydus has established the DNA vaccine platform in the country using non-replicating and non-integrating plasmid carrying the gene of interest, making it safe," the reports added.
Meanwhile, Prime Minister Narendra Modi is expected to visit "Zydus Biotech Park" of pharma company Zydus Cadila on the outskirts of Ahmedabad on Saturday (28 November) morning to review the status of the Covid-19 vaccine being developed by the firm.
Cadila Healthcare is a global pharmaceutical company that discovers, develops, manufactures and markets a broad range of healthcare therapies.
The company's consolidated net profit soared 411% to Rs 423.60 crore on 16% jump in net sales to Rs 3,762.30 crore in Q2 September 2020 over Q2 September 2019.
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