Cadila Healthcare shares rises 3% has plans to launch COVID-19 vaccine by March 2021

Cadila Healthcare shares rises 3% has plans to launch COVID-19 vaccine by March 2021

Cadila Healthcare's share price jumped over 3 percent in the morning session on November 27 after Zydus Cadila said it will apply for Phase 3 clinical trials of its experimental COVID-19 vaccine in December and expects to launch it by March 2021.

"If all goes well, the company expects to introduce the vaccine by March next year," a source told The Economic Times.

Zydus Cadila will submit results of the Phase 2 trials next week, which "will ascertain the safety, dose, and efficacy of the potential vaccine", a source said.

Initial results from the Phase 2 trials indicate that ZyCoV-D, the company's vaccine candidate, that no safety concerns were observed, the report said. According to the report, the company is looking to conduct Phase 3 trials of the vaccine against COVID-19 on 39,000 participants.

"We could be looking at manufacturing 100 million doses, to begin with, once the vaccine receives all regulatory permissions," Zydus Cadila Chairman Pankaj R Patel recently told The Economic Times.

The stock was trading at Rs 436.80, up to Rs 14.45, or 3.42 percent at 09:23 hours. It has touched an intraday high of Rs 441.75 and an intraday low of Rs 434.50.