Zydus Cadila seeks phase III approval; drops after a strong opening

After approving Sputnik-V from Dr Reddy’s Lab and Covaxin from Bharat Biotech, ZyCoV-D is the next one in line seeking permission to start phase III trials.  

Zydus Cadila, a global pharmaceutical company that discovers & develops NCEs, biosimilars and vaccines, is ready to initiate planning with 30,000 volunteers.   

Data & Safety Monitoring Board (DSMB) reviewed the trial and further reported to Central Drugs Standard Control Organisation (CDSCO) for an update on the safety outcome.   

Commenting on this progress, Chairman of Zydus Group said, “After establishing safety in phase I clinical trial, ZyCoV-D has now completed phase II clinical trials and the vaccine has been found to be safe and immunogenic. We are optimistic of phase III clinical trial outcomes as well and that we would be able to start the production of the novel vaccine on its successful completion.”  

The spike protein of SARS-CoV-2 is one of the more-preferred vaccine targets and is being used in Sputnik-V and NVX-CoV2373 as well. ZyCoV-D has created a DNA vaccine platform, where once the plasma DNA is introduced to the host cells, it gets translated into the viral protein which will elicit a strong immune response that protects from diseases and aids the human body to fights viruses.  

Cadila stock opened at Rs 496 per share, 7 points higher from its previous close. Despite the announcement, we saw profit booking today. As a result, the stock dropped and is now at Rs 488.45 per share.