<p>Bharat Biotech and Ocugen Inc have announced the extension of their Covaxin commercial supply pact to include Canada market.</p>.<p>The two companies had in February announced “a definitive agreement” to co-develop, manufacture, supply, and commercialise Covaxin for the United States.</p>.<p>As per the deal, Ocugen and Bharat Biotech would share the profits from Covaxin sale in a 45:55 ratio. The business intent between the Pennsylvania and Hyderabad based firms was first announced in December.</p>.<p>BBV152 or Covaxin is co-developed by Bharat Biotech and the Indian Council of Medical Research.</p>.<p>“Covaxin has demonstrated an excellent safety record in human clinical trials and in vaccine administration under emergency use in India. Our goal for all vaccines developed at Bharat Biotech is to provide global access. With its potential effectiveness against multiple existing and emerging variants, we believe that Covaxin is an important vaccine for everyone, including children, based on its unique yet traditional vaccine platform,” said Dr Krishna Ella, Chairman and Managing Director, Bharat Biotech.</p>.<p>In return of the grant of the rights to commercialize Covaxin in Canada, Ocugen will make an upfront payment and milestone payment upon first commercial sale in Canada to Bharat Biotech, in addition to sharing the profit from Covaxin sales in Canada. Similar to the US profit share arrangement, Ocugen will retain 45 % of the profits from the sales in Canada, Bharat Biotech said in a statement on Thursday.</p>.<p>“As we work towards the submission of the emergency use application in the US, we will simultaneously seek authorization under interim order for emergency use in Canada. We believe Covaxin has the potential to play a key role in saving lives from Covid-19 in the US and Canada, as well as across the globe, due to the strong immune response it generates against multiple antigens,” said Dr Shankar Musunuri, board chairman, CEO, and co-founder of Ocugen.</p>.<p>Under the terms of the agreement, Ocugen will be responsible for clinical development and regulatory approvals.</p>
<p>Bharat Biotech and Ocugen Inc have announced the extension of their Covaxin commercial supply pact to include Canada market.</p>.<p>The two companies had in February announced “a definitive agreement” to co-develop, manufacture, supply, and commercialise Covaxin for the United States.</p>.<p>As per the deal, Ocugen and Bharat Biotech would share the profits from Covaxin sale in a 45:55 ratio. The business intent between the Pennsylvania and Hyderabad based firms was first announced in December.</p>.<p>BBV152 or Covaxin is co-developed by Bharat Biotech and the Indian Council of Medical Research.</p>.<p>“Covaxin has demonstrated an excellent safety record in human clinical trials and in vaccine administration under emergency use in India. Our goal for all vaccines developed at Bharat Biotech is to provide global access. With its potential effectiveness against multiple existing and emerging variants, we believe that Covaxin is an important vaccine for everyone, including children, based on its unique yet traditional vaccine platform,” said Dr Krishna Ella, Chairman and Managing Director, Bharat Biotech.</p>.<p>In return of the grant of the rights to commercialize Covaxin in Canada, Ocugen will make an upfront payment and milestone payment upon first commercial sale in Canada to Bharat Biotech, in addition to sharing the profit from Covaxin sales in Canada. Similar to the US profit share arrangement, Ocugen will retain 45 % of the profits from the sales in Canada, Bharat Biotech said in a statement on Thursday.</p>.<p>“As we work towards the submission of the emergency use application in the US, we will simultaneously seek authorization under interim order for emergency use in Canada. We believe Covaxin has the potential to play a key role in saving lives from Covid-19 in the US and Canada, as well as across the globe, due to the strong immune response it generates against multiple antigens,” said Dr Shankar Musunuri, board chairman, CEO, and co-founder of Ocugen.</p>.<p>Under the terms of the agreement, Ocugen will be responsible for clinical development and regulatory approvals.</p>
