Bharat Biotech terminates Covaxin deal with Brazil's Precisa

Bharat Biotech has terminated a memorandum of understanding to sell its COVID-19 vaccine Covaxin to Brazil's Precisa Medicamentos, the Indian company said on Friday without disclosing the reason.

Bharat's statement said it will continue to work with Brazilian healthcare regulator Anvisa to obtain all required approvals for the use of Covaxin in the country.

There have been allegations in Brazil of irregularities in the government's efforts to buy 20 million doses of the vaccine using Precisa as an intermediary.