SPY417.26+1.39 0.33%
DIA341.86+1.53 0.45%
IXIC14,052.34+13.58 0.10%

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

Ocugen Inc’s (NASDAQ: OCGN) CEO Shankar Musunuri said that the company 

· 03/16/2021 07:48

Ocugen Inc’s (NASDAQ: 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.