Shares of Cadila Healthcare rose a whopping 8 percent, hitting an intraday high of Rs 576.25 after it received emergency use approval from Drug Controller General of India (DCGI) for its Coronavirus vaccine ZyCoV-D. . ZyCoV-D is a three-dose vaccine administered first on day zero, day 28, and then on day 56. With this approval, India now has its first COVID-19 vaccine for the adolescents aged 12-18, Cadila Healthcare said in a press release.
ZyCoV-D is a needle-free vaccine that is administered with a needle-free applicator from The PharmaJet, which ensures painless intradermal administration of the vaccine.
“This is the first time that a technologically advanced vaccine has been successfully developed on the Plasmid DNA platform for human use. Due to its fast plug-and-play technology, the platform can be easily adapted to address mutations in the virus, like that, the company plans to produce 10-12 crore doses of ZyCoV-D annually,” said Cadila Healthcare.
“This is a historic milestone with ZyCoV-D, a product of Indian innovation that will become the world’s first DNA vaccine to be offered for human use and support the world’s largest immunization campaign,” said Pankaj R. Patel, president of Cadila Healthcare in a statement.
As of 2:54 p.m., shares of Cadila Healthcare were trading 3.6 percent higher at Rs 554.45, outperforming the Sensex, which was 0.4 percent higher.