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Cadila Health share ends higher on nod to conduct trials of Zydus corona drug

Cadila Health share ends higher on nod to conduct trials of Zydus corona drug

Share price of Cadila Health gained up to 4.86% to Rs 378.5 against previous close of Rs 360.95

Cadila Health shares rose over 4% today after Zydus received approval from COFEPRIS to conduct clinical trials in Mexico with Pegylated Interferon alpha-2b to treat Coronavirus. Share price of Cadila Health gained up to 4.86% to Rs 378.5 against previous close of Rs 360.95.

Cadila Healthcare share trades higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. Cadila Healthcare share has risen 56.8% in an year and 48.41% since the beginning of this year. The stock has been gained 6.67% in the last 3 days. Total 7.04 lakh shares changed hands amounting to turnover of Rs 26.14 crore on BSE.

Zydus Cadila announced that it had received approval from the Mexican regulatory authority COFEPRIS to conduct clinical trials with its biological therapy, Pegylated Interferon alpha-2b, 'PegiHepTM'.

"Our endeavour is to continue looking for pathways for a safe and efficacious treatment to combat COVID-19. Pegylated Interferon alpha has the potential to reduce virus titres when given earlier in the disease. The focus is on reducing the viral load and generating virus eliminating specific immune response," said Dr. Sharvil Patel, Managing Director, Cadila Healthcare Ltd.