Bharat Biotech terminates MoU with Brazilian partners after graft allegations

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

Hyderabad: Bharat Biotech on Friday said it terminated the Memorandum of Understanding entered with Precisa Medicamentos and Envixia Pharmaceuticals LL.C for its COVID-19 vaccine Covaxin for the Brazilian market. The termination of the MoU came after the deal with the Brazilian government for supply of 20 million doses of the vaccinelanded 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.