Udayavni Special

Bharat Biotech terminates MoU with Brazilian partners after graft allegations


PTI, Jul 24, 2021, 9:11 AM IST

Bharat Biotech on Friday said it terminated the Memorandum of Understanding entered with Precisa Medicamentos and Envixia Pharmaceuticals LLC for its COVID-19 vaccine Covaxin for the Brazilian market.

The termination of the MoU came after the deal with the Brazilian government for the supply of 20 million doses of the vaccine landed in controversy and attracted investigation by authorities in that country.

Precisa Medicamentos is Bharat Biotech’s partner in Brazil, providing assistance, guidance and support with regulatory submissions, licensure, distribution, insurance and conduct of phase III clinical trials, among others.

“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.

Bharat Biotech is pursuing approvals in various countries as per legal requirements applicable in each country, it said.

Bharat Biotech signed an MoU with Precisa Medicamentos and Envixia Pharmaceuticals LL.C on November 20 for the purpose of introducing Covaxin in the territory of Brazil.

The global pricing of the vaccine has been set between USD 15-20 and accordingly, the jab was offered to the Government of Brazil at the rate of USD 15 per dose, Bharat Biotech 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, the company said.

The vaccine maker stressed that all its actions, including its global dealings, are done in accordance with local laws and the company employs and follows the highest standards of ethics, integrity and compliance at all times.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

Ministers in Amarinder Singh govt question decision to ‘drop’ them

Punjab CM Charanjit Singh Channi carries out first cabinet expansion

Techie feared washed away in heavy rain, search operation underway

Authorities baffled as man demands Modi’s presence for his vaccination

Byndoor-origin man hosts PM Modi for fourth time in US

Man arrested for wife’s murder wanted to kill her during trip to coastal Karnataka

Bengaluru: Police resume using breath analysers to check drunk driving

Related Articles More

Warm welcome for PM at Palam airport on return from US

Ministers in Amarinder Singh govt question decision to ‘drop’ them

5 held as 3 REET candidates found with slippers hiding bluetooth devices

Punjab CM Charanjit Singh Channi carries out first cabinet expansion

MVA govt won’t last long as DNAs of three ruling parties different, says BJP’s C T Ravi

MUST WATCH

New Education Policy its a need for society : Minister Dr. Ashwathnarayan C. N

Students participated in procession

UDAYAVANI NEWS BULLETIN|26/9/2021

Illegal gas filling at dandeli

Fire Accident at kapu


Latest Additions

Warm welcome for PM at Palam airport on return from US

Ministers in Amarinder Singh govt question decision to ‘drop’ them

5 held as 3 REET candidates found with slippers hiding bluetooth devices

Punjab CM Charanjit Singh Channi carries out first cabinet expansion

MVA govt won’t last long as DNAs of three ruling parties different, says BJP’s C T Ravi

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.