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COVID-19 vaccine: Aurobindo Pharma expects phase-I, II trials by end of 2020

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Aurobindo Pharma aims to get vaccine ready by March-April timeline where it would make the product for Phase III trials.
Hyderabad: Aurobindo Pharma has said it is expecting its proposed vaccine candidate for COVID-19 to undergo Phase I and II trials by the end of 2020, while Phase III may be undertaken during March-April next year. Managing Director of Aurobindo Pharma, Narayanan Govindarajan in the recently held earnings call with analysts said the city-based pharma major has earmarked USD 150-200 million towards capex during the current fiscal.
He said the vaccine for COVID-19 is being developed by Profectus BioSciences Inc in US, which was acquired by AurobindoPharmas subsidiary Auro Vaccines LLC. According to Govindarajan, the company's viral vaccine manufacturing capacity in India would be undertaken in two phases.

Covid-19 vaccine: Aurobindo expects phase-I, II trials by end of 2020

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Aurobindo Pharma aims to become debt free in 3 years sans

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Aurobindo Pharma expects to become a debt free company in the three next years barring the amount it is spending on acquisition of Sandoz products, a senior official of the city-based company has said.
In September last year, the $3 billion drug maker said its US subsidiary entered into an agreement to acquire commercial operations and three manufacturing facilities in America from Sandoz Inc, USA, a Novartis Division, for USD 900 million.
"During the year, we will reduce between $150 million to $ 200 million debt, and we have already achieved that..On the long-term front, based on the experience, which we had in the last two or three quarters, and we are targeting to achieve a zero debt in the next three years. That's what we are all seeing on the existing business... without considering Sandoz," Santhanam Subramanian, Aurobindo Chief Financial officer said in a recent earnings call.

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