Bharat Biotech terminates MoU with Brazilian partners
The termination comes after the deal with the Brazilian government landed in controversy and attracted a graft probe by authorities
Bharat Biotech on Friday said it terminated the Memorandum of Understanding entered with Precisa Medicamentos and Envixia Pharmaceuticals for its Covid-19 vaccine Covaxin for the Brazilian market.
The termination comes after the deal with the Brazilian government landed in controversy and attracted a graft probe by authorities.
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.