AstraZeneca Pharma share price gains after SII applies for emergency use of Covishield
SII is the first Indian company to apply to the Drugs Controller General of India (DCGI) seeking emergency authorisation for coronavirus vaccine in the country.
December 07, 2020 / 11:45 AM IST
AstraZeneca Pharma share price gained over a percent after the Serum Institute of India sought the India drug regulator's nod for emergency use authorisation for Covishield, its coronavirus vaccines, in India.
The Pune-based SII applied for emergency use for the Oxford-AstraZeneca COVID-19 vaccine on December 6. SII is the first Indian company to apply to the Drugs Controller General of India (DCGI) seeking authorisation for coronavirus vaccine in the country.
The phase-three clinical trial of Covishield is being conducted by the SII, co-sponsored by the Indian Council of Medical Research (ICMR) in various parts of the country. Clinical studies are being carried out in the UK and Brazil.
The stock was trading at Rs 4,577, up Rs 69.80, or 1.55 percent, at 1042 hours. It has touched an intraday high of Rs 4,595 and an intraday low of Rs 4,530.
"In terms of safety, Covishield was well tolerated with respect to solicited adverse events and was not associated with an increased number of SAEs and deaths. A majority of solicited reactions were mild in severity and resolved without any sequelae. Therefore, Covishield is safe and well-tolerated and can be used effectively for prevention of COVID-19 in the targeted population. Thus, the benefit to risk ratio strongly supports the widespread use of Covishield," sources said.
The results are in line with other anti-coronavirus vaccines and because of the huge disease burden, Covishield is predicted to alleviate substantial COVID-19 mortality and morbidity, Serum Institute told DGCI.