Cadila Healthcare shares surge after nod for ZyCov-D covid vaccine1 min read . Updated: 23 Aug 2021, 11:53 AM IST
- Cadila aims to make 100 million to 120 million doses of ZyCoV-D annually and has begun stockpiling the covid vaccine
Shares of Cadila Healthcare Ltd surged nearly 8% in Monday's early deals after India's drug regulator last week approved the drugmaker's COVID-19 vaccine, the world's first DNA shot against the coronavirus, for emergency use in adults and children aged 12 years and above.
The vaccine, developed in partnership with the Department of Biotechnology, is the second home-grown shot to get emergency authorization in the country after Bharat Biotech's Covaxin.
Cadila aims to make 100 million to 120 million doses of ZyCoV-D annually and has begun stockpiling the vaccine.
Zydus Group MD Dr Sharvil Patel on Saturday said that by next week, clarity on the price of its recently approved Covid-19 vaccine candidate ZyCOV-D vaccine will come next week.
In a virtual address, Patel also said that supply of vaccines will start in mid-September. “We can scale up production of vaccines to 1 crore a month from October at the new production plant," he added. He also said that efficacy of ZyCOV-D vaccine is over 66%, and its efficacy against the Delta variant is about 66%.
On Friday, the indigenously-developed Zydus Cadila Covid vaccine ZyCoV-D received approval for Emergency Use Authorisation from the Drug Controller General of India and it will be administered to people 12 years and above, the Department of Biotechnology said.
This is the world's first DNA-based vaccine against the coronavirus, and this three-dose vaccine when injected produces the spike protein of the SARS-CoV-2 virus and elicits an immune response, which plays a vital role in protection from the disease as well as viral clearance, it said.
Cadila's stock gained the most in four months on Monday and has so far risen 12.2% this year, as of last close, compared with a 6.16% rise in the Nifty Pharma index.
Never miss a story! Stay connected and informed with Mint. Download our App Now!!