Bharat Biotech cancels contracts with 2 Brazil firms for Covaxin

Bharat Biotech on Friday said it has terminated agreements it had signed with two Brazilian companies - Precisa Medicamentos and Envixia Pharmaceuticals LLC to introduce its Covid-19 Covaxin in Brazil.

New Delhi:Bharat Biotech on Friday said it has terminated agreements it had signed with two Brazilian companies - Precisa Medicamentos and Envixia Pharmaceuticals LLC to introduce its Covid-19 Covaxin in Brazil. In an official release, Bharat Biotech said "The said MoU was entered into with Precisa and Envixia for the purpose of introducing the company's innovative COVID-19 vaccine, COVAXIN in the territory of Brazil. The company has terminated the said MoU with immediate effect."

However, Bharat Biotech said it will continue to work diligently with ANVISA, the Brazilian drug regulatory body to complete the regulatory approval process for Covaxin. The company said it is pursuing approvals in various countries as per legal requirements applicable in each country. As part of its global supply outreach, the Hyderabad-based pharma firm has offered to supply Covaxin to Brazil.

Read: WHO assessing Covaxin data for EUL; Decision date "to be confirmed"

"The global pricing (save for India) of Covaxin has been set between USD 15-20. Accordingly, Covaxin has been offered to the Government of Brazil at the rate of USD 15 per dose," the company said. 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.

"We have very recently been informed that certain letters (as attached), purported to have been executed by executives of the company, are being circulated online. We would like to emphatically state that these documents have not been issued by the company or its executives and therefore vehemently deny the same", read the release. Bharat Biotech 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.

(ANI)