In a proud moment for India, Ocugen Inc and Bharat Biotech have announced a definitive agreement to co-develop, supply and commercialise Bharat Biotech's Covaxin. It will be an advanced stage whole-virion inactivated COVID-19 vaccine candidate for the US market, the companies said in a joint statement on Wednesday.
Pennsylvania-based Ocugen will have the rights to market the vaccine. Under the terms of the agreement, the company will be responsible for clinical development, regulatory approval (including Emergency Use Authorisation ) and commercialisation for the US market. On the other hand, Bharat Biotech will supply initial doses to be used in the US upon Ocugen's receipt of a EUA and support the technology transfer for manufacturing in the states. The US-firm would retain 45% of the profits and will share the profits from the sale of Covaxin in the US market with Bharat Biotech.
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