Hester Biosciences rose 2% to Rs 1839.95 after the company announced the acquisition of technology from ICAR - NIHSAD to develop a low pathogenic avian influenza (H9N2 strain) inactivated vaccine for poultry.
In an exchange filing made during market hours today, the vaccine manufacturing company said that it has signed an agreement towards receiving indigenously developed technology from Indian Council of Agricultural Research - National Institute of High Security Animal Diseases (ICAR-NIHSAD), for the development and commercialization of the low pathogenic avian influenza (H9N2 strain) inactivated vaccine for poultry.
Low pathogenic avian influenza H9N2 strain causes comorbidity in poultry flocks throughout the year, leading to huge economic losses to the poultry farmers. The disease generally has low mortality rate up to 6% but can increase significantly in the presence of other infections. It could also lead to an irreversible egg production drop (up to 50%) in layer birds and a performance loss in broilers.
This indigenously developed inactivated H9N2 vaccine for poultry is developed using a local isolate, thereby ensuring that the vaccine is made from the local strain and not by importing any exotic strain.
"The huge poultry population in India is a key source of livelihood for rural India. Until date, India had no vaccine available for Avian Influenza despite of periodic outbreaks across the country. These factors make this vaccine as having a significant commercial potential, the company said in a statement.
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Hester has plans to launch this Vaccine by the end of 2023 after completing the required field studies and obtaining regulatory approvals.
Besides supplying the vaccine within India, Hester intends to export this vaccine to African and Asian countries through Hester's own distribution network, where the demand for this vaccine has already been established.
Hester is one of the leading poultry and animal healthcare companies in India. It is the second largest poultry vaccine manufacturer in India. It currently has a 75% market share in PPR vaccines for Sheep and Goat, across the world. In addition, the company has a health products portfolio comprising of therapeutics, feed supplements and biosecurity.
The company's standalone net profit tumbled 12.1% to Rs 10.35 crore despite of 27.2% jump in net sales to Rs 72 crore in Q2 FY23 over Q2 FY22.
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