Wockhardt gains after UK regulator OKs AstraZeneca's COVID-19 vaccine

Wockhardt rose 2.11% to Rs 520.70 after the Britain's health regulator approved emergency supply of Oxford-AstraZeneca COVID-19 vaccine in U.K.

The scrip surged 5.40% to hit the day's high at 528.35, from the day's low of 501.3 in trade today.

The coronavirus vaccine being developed by the University of Oxford and AstraZeneca has been approved for emergency supply in the UK, with the first doses being released today so that vaccinations may begin early in the New Year.

The UK Medicines and Healthcare products Regulatory Agency (MHRA) has provided authorisation for emergency supply of COVID-19 Vaccine AstraZeneca, formerly AZD1222, for the active immunisation of individuals 18 years or older.

AstraZeneca aims to supply millions of doses in the first quarter as part of an agreement with the government to supply up to 100 million doses in total.

Wockhardt in August this year announced entering into an agreement with the UK Government to fill finish COVID-19 vaccines. The manufacturing would be undertaken at CP Pharmaceuticals, a subsidiary of Wockhardt based in Wrexham, North Wales.

As per the terms of the agreement, Wockhardt has reserved manufacturing capacity to allow for the supply of multiple vaccines to the UK Government in its fight against COVID19, including AZD1222, the vaccine co-invented by the University of Oxford and its spinout company, Vaccitech and licensed by AstraZeneca.

Wockhardt is a global pharmaceutical and biotechnology organization, providing affordable, high-quality medicines.

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