Cadila Healthcare share rises 3% on DCGI nod to Phase III trial of COVID-19 vaccine

Cadila Healthcare share rose over 3% today after  regulator Drugs Controller General of India (DCGI) gave its nod to Phase III clinical trials of the Ahmedabad-based company's Covid-19 vaccine ZyCoV-D. Csdila Healthcare share touched an intraday high of Rs 492.95, rising 3.02% against previous close of Rs 478.50 on BSE.

The stock has gained 1.56% in the last 2 days. The share opened with a gain of 2.87% at Rs 492.25 today.

Cadila Healthcare share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

Market cap of the firm rose to Rs 49,615 crore. The share has gained 86.39% in one year and risen 1.67% since the beginning of this year.

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"The Nation's first indigenously developed DNA vaccine candidate against Covid-19, ZyCoV-D, by Zydus Cadila has been approved by Drugs Controller General of India (DCGI), for the conduct of the Phase III clinical trials," the firm said in a release on Sunday.

The phase-2 trials of Zydus Cadila's coronavirus vaccine had been conducted in around 1,000 healthy adults. These trials comprised dose-escalation, multi-centric, randomised, double-blind placebo-controlled study, according to the Gujarat-based pharma major.

The trial results have been reviewed by an independent data safety monitoring board (DSMB). These reports were later submitted to the Central Drugs Standard Control Organisation (CDSCO) for safety outcome updates.

Meanwhile, the DCGI has given emergency use authorisation to SII-AstraZeneca's Covishield and Bharat Biotech-ICMR's Covaxin.

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