Cadila Healthcare share price zooms 8% after DCGI approves needle-free COVID-19 vaccine

Shares of Cadila Healthcare rose 8 per cent to hit an intraday high of Rs 576.25 on BSE after the company announced that it has received the Emergency Use Authorization (EUA) from the Drug Controller General of India (DCGI) for ZyCoV-D, the world’s first Plasmid DNA Vaccine for COVID-19.   "With this approval, India now has its first COVID-19 vaccine for the adolescents in the 12-18 age group, besides the adult population. ZyCoV-D, is a needle-free vaccine administered using The PharmaJet a needle free applicator, which ensures painless intradermal vaccine delivery," the company said.   The stock opened 6 per cent higher at Rs 567 against the previous close of Rs 1067.60. With a market capitalisation of Rs 55,548.27 crore, the share stands higher than 5 day, 20 day and 200 day moving averages but lower than 50 day and 100 day moving averages. The large cap stock has risen 30.5 per cent since the beginning of this year.   ZyCoV-D is a Plasmid DNA vaccine which when administered produces the spike protein of the SARS-CoV-2 virus and elicits an immune response mediated by the cellular and humoral arms of the human immune system, which play a vital role in protection from disease as well as viral clearance. The company plans to manufacture 10-12 crore doses of ZyCoV-D annually.   Speaking on this development, Mr. Pankaj R. Patel, Chairman, Cadila Healthcare Ltd., said “This is a historic milestone with ZyCoV-D, a product of Indian innovation becoming the world’s first DNA vaccine being offered for human use and supporting the world’s largest immunization drive."   "We are particularly happy that our vaccine will contribute to this fight against COVID-19 and enable the country to vaccinate a larger population especially in the age group of 12-18 years. I would like to thank all the researchers, clinical trial investigators, volunteers and the regulators who have supported this endeavour," he added.   The company also plans to seek approval for the two dose regimen of the vaccine. "The main advantage of DNA vaccines is their ability to stimulate both the humoral and cellular arms of the adaptive immune system," the company said. They are a valuable form of antigen-specific immunotherapy, as they are safe, stable and can be easily produced.   ZyCoV-D is stored at 2-8 degree C but has shown good stability at temperatures of 25 degree C for at least three months. The company informed that the thermostability of the vaccine will help in easy transportation and storage of the vaccine and reduce any cold chain breakdown challenges leading to vaccine wastage. It is a three dose vaccine which will be administered first on day zero, day 28th and then on the 56th day.