Hester Bio surges 22% in 2 days on tech transfer for manufacturing Covaxin

The technology transfer from Bharat Biotech will enable Hester to provide the drug substance from August 2021 to BB for its vaccine production

Shares of Hester Biosciences rallied 14 per cent to Rs 3,099 on the BSE in the intra-day trade on Friday, surging 22 per cent in two days, after the company said it is part of a MoU between vaccine maker Bharat Biotech and Gujarat Covid Vaccine Consortium (GCVC) for contract manufacturing the drug substance for Covaxin.

The company said a memorandum of understanding (MoU) has been signed between Bharat Biotech (BB) International Limited and Gujarat Covid Vaccine Consortium (GCVC) towards contract manufacturing for the drug substance for COVAXIN, of which Hester is a part.

GCVC comprises of Gujarat