Mr. Yash Gupta Equity Research Associate, Angel Broking Ltd
Cadila Healthcare up by 3% on positive news of receiving approval from DCGI to commence Phase III clinical trials in India for drug re-purposed for treatment of Covid-19. Zydus Cadila, today announced that it had received an approval from the Drugs Controller General of India to start the Phase 3 clinical trial in CoVID-19 patients with its biological therapy, Pegylated Interferon alpha-2b, 'PegiHepô'. The trials which will commence in December will be conducted on 250 patients across 20-25 centres in India. In the Phase II clinical trials study established the early safety, efficacy and tolerability of PegiHep TM and has indicated that Pegylated Interferon alpha-2b having statistical clinical beneficial impact on the patient suffering from moderate COVID 19 disease by reducing their viral load helping in better disease management such as reduced duration of oxygen support. Moreover, a single dose therapy will improve compliance and also make it highly affordable for patients. Pegylated Interferon alpha-2b, 'PegiHepô is an approved drug and is being re-purposed for the treatment of COVID-19. It will be a very big opportunity for Cadila, we expect results to come in next 3 months, any positive development in Phase 3 trial results will be a key for Cadila.
Shares of CADILA HEALTHCARE LTD. was last trading in BSE at Rs.471 as compared to the previous close of Rs. 462.8. The total number of shares traded during the day was 255211 in over 5266 trades.
The stock hit an intraday high of Rs. 475.85 and intraday low of 457.95. The net turnover during the day was Rs. 119545015.