Shares of Cadila Healthcare touched a one-year-high on Friday after Zydus Cadila said it would apply for Phase-III3 clinical trials of its experimental COVID-19 vaccine in December and plans to launch it by March 2021.

The stock opened at Rs 439 against the previous close of Rs 422.30 on NSE. Later, the stock touched an intraday high of Rs 454.50, rising 7.50%. The stock has gained 7.3% in the last 2 days. In one year, the large-cap share has gained 76.54% and risen 77% since the beginning of this year. The market capitalization of the firm rose to Rs 46,017 crore.

Zydus Cadila will submit results of the Phase 2 trials next week, which "will ascertain the safety, dose and efficacy of the potential vaccine", the report said. No safety concerns were observed during initial results from the Phase 2 trials of ZyCoV-D, the company's vaccine candidate. The company plans to conduct Phase 3 trials of the vaccine on 39,000 participants.

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