Zydus Cadila enters into an partnership with USbased Infectious Disease Research Institute (IDRI) - Angel Broking

Zydus Cadila Healthcare, has entered into an partnership with US-based Infectious Disease Research Institute (IDRI) a non-profit research and product development organization, to collaborate on the production and clinical development of IDRI's visceral leishmaniasis (VL) vaccine candidate, designed to prevent the deadly parasitic disease,known as Kala-Azar in India. Visceral Leishmaniasis (VL) is transmitted by the bite of an infected sand fly. There are over 500,000 new VL cases and 50,000 associated deaths each year. VL is the most severe form of leishmaniasis, affecting vital organs, and, if left untreated, the disease can be fatal.

This is positive step for the company's R&D initiatives and since it doesn't change our estimates, we maintain our buy with a target price of Rs.929.

Source : Equity Bulls

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