According to the agreement, Ocugen will make payments upfront and payment of milestones at the first commercial sales in Canada to Bharat Biotech, in addition to sharing the benefits of Covaxin sales in Canada.
Ocugen registered Nasdaq has the right to commercialize Covaxin in the US.
Bharat Biotech on May 3 said it has expanded the development, supply, and commercialization of Covaxin with US-Biotech Ocugen to enter Canada too.

Ocugen registered Nasdaq has the right to commercialize Covaxin in the US.

The two companies said when they worked towards the application of emergency use in the US, they would simultaneously seek authorization under the temporary commandment for emergency use in Canada.

According to the agreement, Ocugen will make payments upfront and payment of milestones at the first commercial sales in Canada to Bharat Biotech, in addition to sharing the benefits of Covaxin sales in Canada.

Similar to the setting of US profit shares, Ocugen will maintain 45 percent of the benefits of Covaxin sales in Canada.
“With its potential effectiveness of several existing variants and arises, we believe that Covaxin is an important vaccine for everyone, including children, based on a unique but traditional vaccine platform,” said Krishna Ella, Chair & Managing Director Bharat Biotech.

“We are diligent in working with Ocugen to bring Covaxin to the US market and now to the Canadian market,” Ella said,

“We believe Covaxin has the potential to play a key role in saving lives from Covid-19 in the US and Canada, and throughout the world, due to a strong immune response produced against several antigens,” Dr. Shankar Musunuri. , Chairman of the Board, Chief Executive Officer, and Co-Founder of Ocugen.