Hyderabad-headquartered Bharat Biotech International Ltd (BBIL) has reportedly terminated an MoU (Memorandum of Understanding) of selling its Covid vaccine Covaxin to its Brazilian partner Precisa Medicamentos.
According to the biotech firm, BBIL will continue to work with ANVISA, Brazil’s healthcare regulator for obtaining all necessary approvals for Covaxin’s use in the South American country. The company said that it announces termination of its Memorandum of Understanding with Precisa Medicamentos & Envixia Pharmaceuticals for selling Covaxin in Brazil. It added that BBIL will continue working with the Brazilian drug regulator ANVISA for completing the regulatory approval process for the Covid vaccine.
This development comes on the heels of allegations in the Latin American country of irregularities in the government’s efforts to purchase 20 million (2 crores) Covid vaccine jabs using Precisa Medicamentos as an intermediary.