Cadila Healthcare shares up 3% on plans to launch COVID-19 vaccine by March 2021

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Cadila Healthcare share price jumped over 3 percent in the morning session on November 27 after Zydus Cadila said it will apply for Phase 3 clinical trials of its experimental COVID-19 vaccine in December and expects to launch it by March 2021.

"If all goes well, the company expects to introduce the vaccine by March next year," a source told The Economic Times.

Moneycontrol could not independently verify the story.

Zydus Cadila will submit results of the Phase 2 trials next week, which "will ascertain the safety, dose and efficacy of the potential vaccine", a source said.

Initial results from the Phase 2 trials indicate that ZyCoV-D, the company's vaccine candidate, that no safety concerns were observed, the report said. According to the report, the company is looking to conduct Phase 3 trials of the vaccine against COVID-19 on 39,000 participants.

"We could be looking at manufacturing 100 million doses to begin with, once the vaccine receives all regulatory permissions," Zydus Cadila Chairman Pankaj R Patel recently told The Economic Times.