Hyderabad: Drugmaker Bharat Biotech ended agreements with two Brazilian companies amid controversy over a $324 million deal.
The termination of the agreements with Precisa Medicamentos and Envixia Pharmaceuticals came after the deal set off a major political row in Brazil and spawned an investigation by authorities in the country.
“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.
Last month, Bharat Biotech had emphatically denied any wrongdoing on its part amid the growing controversy; the Hyderabad-based company said it had followed a “step-by-step” approach, and that: “EUA (was) received on June 4”.
Brazilian authorities contradicted the claim, the company replaced “EUA received on June 4″ in its statement with ‘On 4th June, ANVISA authorized exceptional import of Covaxin vaccine by Ministry of Health for distribution and Use Under Controlled Conditions”.
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