News > Bharat Biotech cancels Covaxin deal with Brazil intermediary amid corruption allegations

Bharat Biotech cancels Covaxin deal with Brazil intermediary amid corruption allegations

Biotechnology company Bharat Biotech on Friday said that it has terminated the memorandum of understanding to sell its coronavirus vaccine, Covaxin, to Precisa Medicamentos, its intermediary in Brazil.

A federal investigation is underway into alleged irregularities in a contract between Brazil’s health ministry and Bharat Biotech for 20 million (2 crore) doses of Covaxin. The deal was made despite Covaxin’s failure to obtain regulatory clearance for the vaccine’s use in the country.