Hyderabad: In the midst of a report that Brazil suspended a deal of $ 324 million to get Covaxin which was accidentally developed because of alleged irregularities, Bharat Biotech on Wednesday denied reports about errors in agreement and said the process of procuring a general vaccine, was widely accepted, and established Extensive, and established payment in advance.
Bharat Biotech also slams allegations by former Brazilian Ministry of Health officials requested by his partners, asking for advances to be made to third parties, Shell Company based in Singapore called Madison Biotech Pte Ltd..
The company clarified that Madison Biotech Pte was one of 13 companies established or acquired by the Chairman of Bharat Biotech and the implementing director of Dr.
Krishna Ella and founded in 2020 for external R & D purposes and sales and marketing vaccines.
“We want to eliminate ideas or implications of any mistakes, because all this is an affiliate company found / acquired and operated by Dr.
Krishna Ella.
More than 3,000 personnel are employed in 6 cities in all these organizations,” Bharat Biotech said in a statement.
Indicates that over the past few weeks, media reports generally have misinterpreted the process of procuring Covaxin in Brazil and other countries, the company said that he had followed a step-by-step approach in the Brazil case.
“Since the first meeting with the Ministry of Health (Moh) Brazil during November 2020 to 29 June 2021, a step-by-step approach has been followed towards contract and regulatory approval, during a long process that is almost 8 months.” The company also said that after receiving the authorization of emergency use (EUA) from the Brazilian authorities on June 4, 2021, had not received a payment in advance or provided any vaccine to Moh Brazil on June 29, 2021.
Detailing the process, the company said that after receiving a letter Intention (or MoU) for procurement, it applies to EUA in the country and posted EUA the country’s victory places orders by releasing purchase orders with the initial number needed.
“To secure the company’s purchase orders from the country, the company proceeded to improve the Proforma Invoice to Moh, towards the supply of vaccines.
Based on invoices, Moh pays in advance.
After payment is received, the company continues to supply the agreed amount and in the agreed schedule,” he said.
“Bharat Biotech has followed a similar approach to contracts, regulatory approval and supply in several countries around the world, where Covaxin was supplied.
In some countries, Mohs has made orders for procurement before vaccine approval such as the United States, EU, India, etc.
However, procurement occurred only posted EUA, “it shows.
On price issues, he said the price of Covaxin has been set between $ 15-20 per dose for supply to the government outside India.
“Prices for Brazil have also been shown at $ 15 per dose.
Bharat Biotech has received advance payments from several other countries at the above price point, with inventory in the process, waiting for approval,” he said.
In the tie-up with Precisa Medicamentos, he said Bharat Biotech followed the partnership model in all countries, where the vaccine was supplied, because he did not have his own office in these countries.
“Precisa Medicamentos is a Bharat Biotech partner in Brazil, providing assistance, guidance, and support by submitting regulations, licenses, distribution, insurance, clinical test behavior phase III, etc.,” he explained.
Bharat Biotech said Covaxin had received EUA in 16 countries and EUA was in the process of 50 countries around the world.
The company is also in discussions with the World Health Organization (WHO) to get a list of emergency use for Covaxin, he said.
“This product has been exported to several countries, with additional requests for supplies received.
Technological transfer activities are taking place to companies in the United States and other countries,” he said.