Brazil suspends $320 million deal with Bharat Biotech for Covaxin
3 years, 5 months ago

Brazil suspends $320 million deal with Bharat Biotech for Covaxin

Live Mint  

Brazil has suspended the contract for 20 million doses of Bharat Biotech International’s Covaxin worth about $320 million following a controversy over alleged irregularities in procurement and pricing. The contract between Bharat Biotech and Brazil’s Precisa Medicamentos has been at the centre of a political storm following a report by the parliamentary commission of inquiry on the Bolsonaro administration’s handling of the pandemic. Email exchanges between Bharat Biotech and the ministry showed an initial quoted price of $1.34 per dose, which later rose to $15 per dose after the contract was negotiated, according to a Parliamentary Inquiry Committee statement, the report said. In a statement on Wednesday, Bharat Biotech said it had committed no wrong in the supply contract for the covid vaccine, including the pricing, which was set at $15-20 for export markets.

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