Shilpa Medicare Limited ties up with Cadila Healthcare Ltd for production of ZyCoV-D vaccine

Shilpa Medicare Limited ('SML' or 'the Company'), via its wholly owned subsidiary, Shilpa Biologicals Pvt Ltd (SBPL), has entered into a definitive agreement with Cadila Healthcare Ltd (CHL) for production-supply of the ZyCov-D vaccine drug substance from its integrated Biologics R&D cum Manufacturing center at Dharwad, Karnataka.

The targeted production of the ZyCoV-D vaccine from this facility will be mutually agreed upon by both parties.

ZyCov-D is the first DNA plasmid vaccine in the world for human use developed indigenously by CHL against the Covid-19 virus. It is also the first COVID-19 vaccine for adolescents in the 12-18 age group, besides the adult population and is a needle-free vaccine administered using The PharmaJet® a needle free applicator, which ensures painless intradermal vaccine delivery. CHL will transfer the ZyCoV-D technology to SBPL. Under the agreement, SBPL will be responsible for manufacture of the Drug substance of the vaccine, while CHL is responsible for filling / packaging / distribution / marketing of the vaccine in its marketing territories.

The biologics business has been identified as a strategic growth engine by SML and it has made significant investments in setting up a high end, flexible biologics facility in SBPL. This facility at Dharwad would cater to the requirements of the fast-growing biologics field, that include the DNA vaccine, adenoviral, subunit vaccines, monoclonal antibodies & fusion proteins.

Shares of Shilpa Medicare Ltd. was last trading in BSE at Rs. 568.55 as compared to the previous close of Rs. 564.8. The total number of shares traded during the day was 5605 in over 282 trades.

The stock hit an intraday high of Rs. 577.45 and intraday low of 568. The net turnover during the day was Rs. 3213196.

Shares of Cadila Healthcare Ltd. was last trading in BSE at Rs. 566.9 as compared to the previous close of Rs. 561.2. The total number of shares traded during the day was 159994 in over 4538 trades.

The stock hit an intraday high of Rs. 570.5 and intraday low of 560.7. The net turnover during the day was Rs. 90740377.

Source : Equity Bulls

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