Ocugen Plans To Sell 100M Covaxin Doses In US This Year: Reuters

Ocugen Inc’s OCGN CEO Shankar Musunuri said that the company plans to sell 100 million doses of India’s two-dose COVID-19 vaccine in the U.S. this year, Reuters reports.

  • Covaxin is 81% effective based on an interim analysis of late-stage trial data, its developers Bharat Biotech and the state-run Indian Council of Medical Research reported earlier this month.
  • Ocugen aims to launch the vaccine in the U.S. in the second quarter of 2021, initially with imported shots before beginning production there.
  • Musunuri said COVAXIN had the potential to work against COVID-19 variants, and Ocugen could initially focus on children as it was likely to be safe for those over the age of 12.
  • Ocugen will have U.S. rights to the vaccine and be responsible for its clinical development, regulatory approval, and commercialization. Bharat Biotech will also transfer its technology and keep 55% of the profit.
  • Shankar Musunuri said Ocugen was expecting more data from Bharat Biotech on COVAXIN after a study in January that showed the shot was likely to be effective against the British strain coronavirus.
  • India’s drug regulator approved COVAXIN for emergency use in January for people above 12, saying it could act against the whole body of a virus instead of just its “spike-protein” tip, potentially making it more effective in case of mutations.
  • Price Action: OCGN shares are trading 1.6% lower at $9.74 in premarket trading on the last check Tuesday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: BiotechNewsHealth CareContractsSmall CapFDAGeneralCOVID-19 VaccineReuters
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!