On Friday, Bharat Biotech, the developer of indigenous Covid-19 vaccine Covaxin, 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 move comes days after Brazil suspended its $ 324 million contract for procuring 20 million doses of Covaxin.
While Bharat Biotech did not elaborate on the reasons for terminating the MoU, it said: “We have very recently been informed that certain letters, 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.”
“The company also stresses that all its actions, including its global dealings, are done in accordance with (sic) 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.
The company, however, said it would continue to work with the Brazilian health regulator Anvisa to complete the regulatory approval process for Covaxin. Bharat Biotech also said it is pursuing approvals in various countries as per legal requirements applicable in each country.
Pointing out that it entered into the MoU with Precisa and Envixia for the purpose of introducing its innovative Covid-19 vaccine Covaxin in the territory of Brazil, Bharat Biotech said it had offered to supply Covaxin to Brazil as part of its global supply outreach.
“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.