Skip to main content

Cadila Healthcare in talks with RDIF to bring COVID-19 vaccine to India; shares hit 52-week high

RDIF has agreed to supply 10 crore doses of the world’s first coronavirus vaccine to Dr Reddy’s Laboratories. However, it wanted to scale up the supply of the vaccine and hence started talks with at least four Indian drug makers, including that of Zydus Cadila.

Cadila Healthcare share price gained over 4 percent intraday on September 18 after media reports indicated that the company is in talks with Russian Direct Investment Fund (RDIF) and Zydus Cadila to bring coronavirus vaccine "Sputnik V" to India.

RDIF and Dr Reddy’s Laboratories have joined hands in clinical trials and distribution of "Sputnik V" in India. The Indian drugmaker would also conduct Phase-3 clinical trials in the country for the vaccine, according to a Financial Express report.



“RDIF has agreed to supply 10 crore doses of the world’s first coronavirus vaccine to Dr Reddy’s Laboratories. However, it wanted to scale up the supply of the vaccine and hence started talks with at least four Indian drug makers, including that of Zydus Cadila. In fact, the Gujarat based company is in advance stages of talks with RDIF,” said the sources.

The stock was trading at Rs 411, up Rs 16.80, or 4.26 percent. It has touched a 52-week high of Rs 412. It also witnessed a spurt in volume by more than 2.22 times and was trading with volumes of 340,561 shares, compared to its five day average of 162,618 shares, an increase of 109.42 percent.

Also, in an exchange filing, Zydus Cadila said that it has received final approval from the USFDA to market Potassium Chloride ExtendedRelease Tablets (US RLD: K-Dur Extended-Release Tablets) in the strengths of 10 mEq (750 mg) and 20 mEq (1500 mg).

The medication is a mineral supplement used to treat or prevent low amounts of potassium in the blood and will be manufactured at the group’s formulation manufacturing facility at the SEZ, Ahmedabad. The group now has 301 approvals and has so far filed over 390 ANDAs since the commencement of the filing process in FY 2003-04, the company added.

Disclaimer: The above report is compiled from information available on public platforms. SD Solutions advises users to check with certified experts before taking any investment decisions.

Comments

Post a Comment

Popular posts from this blog

Panacea Biotech shares hit 5% upper circuit after dengue vaccine completes phase I & II study

DengiAIl induced robust neutralising antibody responses against all the four dengue virus serotypes, the company has said in an exchange filing. Panacea Biotech share price hit 5 percent upper circuit on the BSE on September 24 after the company completed phases I and II study of its dengue vaccine candidate DengiAIl. "Panacea Biotec Ltd. is delighted to announce the successful completion of its Phase I/II study to evaluate the safety and immunogenicity of its vaccine, DengiAll, a single-dose liveattenuated tetravalent vaccine," the company said in an exchange filing. Live-attenuated vaccines contain weakened bacteria or viruses that trigger an immune response but do not cause disease. The company said DengiAIl induced robust neutralising antibody responses against all the four dengue virus serotypes. DengiAIl has been found to be safe and well-tolerated with no serious adverse effects, the company said. After a single-dose, more than 80 percent of the participants ...
Post a Comment
Read more

Taking Stock | Profit-booking pulls Nifty below 14,450; Sensex drops 549 points

  All the sectoral indices ended in the red with IT and PSU bank indices falling 2 percent each. The market remained under pressure on January 15 on the back of profit-booking across sectors amid weak global cues. At close, the Sensex was down 549.49 points or 1.11% at 49,034.67, and Nifty was down 161.90 points or 1.11% at 14,433.70. "The market witnessed profit-booking and following global trends. Nifty continues to resist 14,600 and has taken a dip towards 14,360. If the market closes below 14,380 levels, we might see a correction till the levels of 14,180-14,200. Momentum indicators like RSI, MACD are indicating a small correction in the markets," said Ashis Biswas, Head of Research at CapitalVia Global Research. All the sectoral indices ended in the red with IT and PSU bank falling 2 percent each. Broader markets performed in line with the main indices with BSE Midcap and Smallcap indices falling 1 percent each. Tech Mahindra, GAIL, HCL Tech, Wipro and ONGC...
Post a Comment
Read more

Similar to 2020, D-Street is at record high ahead of Budget 2021; will history repeat itself?

  Experts are of the view that a repeat of 2020 or what happened in March might not be possible but some consolidation cannot be ruled out. Back in March when everyone wanted to write-off 2020 from their books, hope and liquidity supported markets and investor sentiment. Nobody thought that after touching a 3-year low in March 2020, benchmark indices would give double-digit returns by the end of the year. The S&P BSE Sensex and Nifty50 rallied by about 15 percent in 2020 and the big outperformance came from the small and midcap stocks. The rally is still continuing in 2021. The S&P BSE Sensex, which climbed Mount 49K, is up over 3 percent while the Nifty50 is up over 4 percent so far in January. Sensex scaling the 49,000-mark and Nifty50 touching 14,500 levels ahead of the Budget 2021 could make anyone cautious about the strength of the rally. Back in January 2020, both Sensex and Nifty touched fresh highs ahead of Budget, and then the market fell like a pack of cards. The ...
Post a Comment
Read more