Cadila Health surges on hope

There is hope from one more company -Cadila Healthcare announced that it’s plasmid DNA vaccine candidate for covid, which has been developed indigenously at its Vaccine Technology Centre in Ahmedabad, India has successfully completed the preclinical phase.

It has now received permission from the Drug Controller General of India - Central Drugs Standard Control Organisation (CDSCO) to initiate Phase I/II human clinical trials in India. The phase I and II trials will take around three months to be completed.

Zydus has already manufactured clinical GMP batches of the vaccine candidate and plans to initiate the clinical trials in July 2020 across multiple sites in India in over 1000 subjects for which enrolment has begun.

The stock price has reacted positively to this news, opening in the green and soon rising over 4.5% to an intraday high at Rs.380, which is not too far from its 52-week high of Rs.383.65.