Bharat Biotech terminates Brazil’s Covaxin pact amid political dispute
The termination of the pact comes after the deal with the Brazilian government for supply of 20 million doses of the vaccine landed in controversy and attracted investigation by authorities in that country.
FollowBrazil has suspended the clinical studies of Bharat Biotech's Covid-19 vaccine, Covaxin, following termination of the company's agreement with its partner there, the South American Country's health regulator said.
Bharat Biotech, the developer of indigenous Covid-19 vaccine Covaxin, on Friday said it has terminated, with immediate effect, its MoU dated November 24, 2020, with its Brazilian partners for Covaxin — Precisa Medicamantos and Envixia Pharmaceuticals LLC.
The termination of the agreements with Precisa Medicamentos and Envixia Pharmaceuticals came after the deal set off a major political row in Brazil and spawned an investigation by authorities in the country.
"The company has terminated the said MoU with immediate effect. Notwithstanding such termination, Bharat Biotech will continue to work diligently with ANVISA, the Brazilian drug regulatory body to complete the regulatory approval process for Covaxin," it said.
“The company also stresses that all its actions, including its global dealings, are done in accordance with local laws and that the company employs and follows the highest standards of ethics, integrity and compliance at all times,” it said in a statement issued late on Friday evening.
Bharat Biotech is pursuing approvals in various countries as per legal requirements applicable in each country, it said.
“The global pricing (save for India) of Covaxin has been set between US$ 15-20. Accordingly, Covaxin has been offered to the government of Brazil at the rate of US$ 15 per dose. It is further stated that the company has not received any advance payments from, nor has it supplied any vaccines to the Ministry of Health in Brazil,” it said.
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