According to Reuters, the Indian Multinational biotech company, Bharat Biotech, said on Friday it has rescinded the memorandum of understanding (MoU) on the sale of its Covaxin (coronavirus vaccine) to its broker Precisa Medicamentos in Brazil. The company also mentioned that it will continue working with the Brazilian health regulator, Anvisa, to obtain all the necessary approvals for the use of Covaxin in the country.
The Brazilian Federation is investigating suspected violations in the 20 million (2 crores) doses of the Covaxin contract laid between the Brazilian Ministry of Health and Bharat Biotech. Speculations rose as although Covaxin had failed to obtain regulatory authorization use of the vaccine in their country, yet a deal was reached. Now, The Brazilian government has suspended its contract with Bharat Biotech on June 29.