Hester Biosciences jumped 8.79% to Rs 2190 after the company signed agreement with ICAR-IVRI (Indian Council Of Agri Research - Indian Veterinary Research Institute) for classical swine fever & sheep pox vaccines.
In a regulatory filing made during market hours today, the company said that the agreements are for acquiring technologies for the production and commercialisation of classical swine fever vaccine & sheep pox vaccine.
The technologies were developed by ICAR-IVRI and the commercialization of the technologies was facilitated by Agrinnovate India, a company owned by Department of Agricultural, Research & Education (DARE), Ministry of Agriculture, Government of India.
Both the vaccines have been extensively tested by IVRI for safety and potency and have been found to provide 100% protection.
Classical swine fever vaccine has been found to induce protective immunity up to 24 months. Sheep pox vaccine has been found to induce protective immunity up to 48 months.
The vaccines hope to prevent economic losses in swine and sheep farming in India. Hester has targeted to launch both the vaccines commercially in approximately 8 months.
"The swine population in India is estimated to be 9.06 million (90 lacs). The sheep population in India is estimated to be 74.26 million (7.42 crores). With a focus on livestock as a source of income, the over-all population of swine and sheep is expected to grow rapidly thereby increasing the demand for vaccines," the company said in a statement.
Hester Biosciences is engaged in manufacturing of poultry vaccines and large animal vaccines, and trading of poultry health products and large animal health products. Its segments include poultry division and large animal division.
The company's consolidated net profit rose 7.20% to Rs 12.35 crore on a 12.23% increase in net sales to Rs 56.89 crore in Q3 FY21 over Q3 FY20.
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