Cadila Healthcare stock price gained over 4% during the day before closing at Rs 377.60 after its Chairman Pankaj Patel announced that they aim to complete late-stage trials for its coronavirus vaccine candidate ‘ZyCov-D’ by March 2021. Cadila will start production of 100 million doses of potential Covid19 vaccine annually after Phase 3 trial concludes successfully.
The Phase 1 trial will begin this month on over 1,000 patients across multiple sites according to the company Chairman. In addition to starting clinical trials, it is also planning to produce up to 400,000 doses of the drug Remdesivir after it showed positive results in treating patients with COVID-19. Zydus Cadila aims to fulfill India’s Remdesivir requirements before accepting export orders after it wins regulatory approval to make it in India. It had received approval from COFEPRIS(Medical regulatory body of Mexican government) to conduct clinical trials in Mexico with ‘PegiHepTM’ to evaluate safety, efficacy and tolerability in patients with COVID-19.
In conclusion, Cadila is hopeful that it will be able to complete the clinical trials by March 2021 and possesses the ability to mass-produce the vaccine