Pharma company Cadila healthcare’s share price surged by 7 per cent on Monday after the firm received Emergency Use Authorization(EUA) approval from the Drug Controller General of India (DCGI) for its vaccine ZyCoV-D. The company is currently trading at Rs. 551.35.
ZyCoV-D is the world’s first Plasmid DNA Vaccine for COVID-19 and the sixth vaccine to get approval from India. The three-dose vaccine can also be administered to adolescents of the 12-18 age group. It will be administered on day zero, day 28th, and then on the 56th day.
Speaking on this development, Mr Pankaj R. Patel, Chairman, Cadila Healthcare Ltd., said “This is a historic milestone with ZyCoV-D, a product of Indian innovation becoming the world’s first DNA vaccine being offered for human use and supporting the world’s largest immunization drive. We are particularly happy that our vaccine will contribute to this fight against COVID-19 and enable the country to vaccinate a larger population especially in the age group of 12-18 years.”
On August 20, the company announced that it has signed a license and supply agreement with CHEMI SpA (“CHEMI”) of Italy, a subsidiary of Italfarmaco Group. Under the agreement, CHEMI will manufacture and supply the Enoxaparin Sodium Injection, the generic equivalent of Sanofi Aventis’s Lovenox which Zydus will commercialize in the US.