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Cadila jumps nearly 8% after COVID-19 vaccine gets India emergency use nod

Shares of Cadila Healthcare Ltd jumped 7.9% on Monday after India last week approved the drugmaker’s COVID-19 vaccine, the world’s first DNA shot against the coronavirus, for emergency use in adults and children aged 12 years and above. The vaccine, developed in partnership with the Department of Biotechnology, is the second home-grown shot to get emergency authorization in the country after Bharat Biotech’s Covaxin. The company’s Group Managing Director Sharvil Patel said on Saturday the supply of vaccine, which will be scaled up to 10 million doses per month from October, will start by mid-September, according to a media report