Cadila Healthcare Share Price Jumps 7.9% After Its ZyCoV-D Covid-19 Vaccine Gets India Nod

Zydus Cadila’s three-dose ZyCoV-D vaccine is the world's first DNA shot against Covid-19 and has been developed in partnership with the Department of Biotechnology.

After Bharat Biotech's Covaxin, this is the second home-grown vaccine to get EUA in India. | File Image Zydus Cadila vaccine

New Delhi: Three days after the Narendra Modi government approved Cadila Healthcare’s Covid-19 vaccine for emergency use in adults and children aged 12 years and above, the company’s shares jumped 7.9 per cent on Monday, reports said.

Zydus Cadila’s three-dose ZyCoV-D vaccine is the world's first DNA shot against Covid-19, and it has been developed in partnership with the Department of Biotechnology.

After Bharat Biotech's Covaxin, this is the second home-grown vaccine to get emergency authorisation in India. 

On Monday, Cadila's stock gained the most in four months, and has so far risen 12.2 percent this year, as of last close, compared to a 6.16 percent rise on the Nifty Pharma index, Reuters reported.

Cadila has said it aims to make 100-120 million doses of ZyCoV-D annually and has begun stockpiling.

According to media reports, Group Managing Director Sharvil Patel said on Saturday the supply of the vaccine, to be scaled up to 10 million doses per month from October, would start by mid-September.

Patel also said there would be more clarity on the price of the vaccine by this week.

The approval to ZyCov-D comes amid concerns that a third wave of Covid infections could strike the country during the winter months, and there are fears it could hit children this time. Some states are still struggling to contain the spread of the virus.

India aims to inoculate all eligible adults by December, and administer the first shot to those under 18.