Note

July 23, 21 - 9:37 am - Reuters

Covaxin maker announces termination of deal with Brazil’s Precisa Medicamentos

The Indian laboratory Bharat Biotech, a manufacturer of the COVID-19 vaccine Covaxin, announced on Friday the immediate termination of the memorandum of understanding it had signed with the Brazilian pharmaceutical company Precisa Medicamentos for commercialization in Brazil of its vaccine.

In a statement, the Indian company said that despite the end of the agreement, it will continue to work with the Brazilian health regulator to complete the process of obtaining regulatory approval for the vaccine in Brazil.

The negotiations for the purchase of Covaxin by the Ministry of Health became the target of Brazilian Senate’s investigation committee, for suspected irregularities, which led the Ministry of Health to suspend the contract to purchase the vaccine, after the budget commitment of BRL 1.6 billion to pay for the supply of vaccine doses.