Hester Biosciences zooms 19 percent on tie up with Bharat Biotech.
Published On: Monday, May 17, 2021 | By: Team KnowMyStock
Shares of Hester Biosciences gained 19 per cent to Rs 2,944 on the BSE in intra-day trade on Monday, up 33 per cent in the past two trading days, after the pharmaceutical company said it has tied up with the Gujarat government to explore the production of Covid-19 vaccine through technology transfer from Bharat Biotech. Rajiv Gandhi, Hester Biosciences CEO and MD, said in a statement, "A triparty consortium has been formed with the Government of Gujarat as the lead partner, to explore the prospects of manufacturing the Covid vaccine through technology from Bharat Biotech. "The discussions are currently ongoing with Bharat Biotech towards reviewing the infrastructure at Hester, the technology adaption process and the regulatory compliances, he added.
Further, the company said, it has also firmed up its discussions with Bharat Biotech to scale up the COVAXIN technology and to produce minimum 20 million doses per month. Technology transfer agreements have been finalised with all manufacturers," the DBT said in a statement.
Hester Biosciences is one of India’s leading animal healthcare companies and the second-largest poultry vaccine manufacturer in the country.
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