Cadila Health shares gain as Zydus drug receives approval to conduct clinical trials to treat COVID-19

Cadila Health

Cadila Healthcare’s share price increased by more than one percent in the morning trade on July 17, after Zydus received approval from COFEPRIS to conduct Pegylated Interferon alpha-2b clinical trials in Mexico for the treatment of novel Coronavirus.

Zydus Cadila has announced that it has obtained permission from the Mexican regulatory authority COFEPRIS to perform clinical trials with its biological therapy, Pegylated Interferon alpha-2b, ‘PegiHepTM’. It will be an open-label, randomized, comparator-controlled study of Pegylated IFN alfa-2b to determine safety, efficacy and tolerability in COVID-19 patients, the company said.

The stock price has risen by 56 percent in the last 9 months and traded at Rs 366.30, up by Rs 5.35, or 1.48 percent at 09:31. This hit an intraday high of Rs 367.75 and an intraday low of Rs 362.00.

Dr. Sharvil Patel, Managing Director, Cadila Healthcare Ltd. said that their goal is to continue to explore avenues for safe and successful care in the battle against COVID-19. Pegylated Interferon alpha has the ability to minimize the titres of the virus when provided earlier in the disease. The emphasis is on reducing the viral load and creating a virus that eliminates specific immune responses.

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