Ocugen Expands COVAXIN Commercialization Rights To Include Canada, In Addition To US Rights

(RTTNews) - Ocugen Inc. (OCGN) and Bharat Biotech said that they have reached an amendment deal to expand Ocugen's exclusive territory to commercialize COVAXIN to now also include Canada, in addition to Ocugen's existing rights to commercialize COVAXIN in the United States.

Ocugen will make an upfront payment and milestone payment upon first commercial sale in Canada to Bharat Biotech, in addition to sharing the profit from sales of COVAXIN in Canada. Similar to the US profit share arrangement, Ocugen will retain 45% of the profits from sales of COVAXIN in Canada.

COVAXIN, India's COVID-19 vaccine by Bharat Biotech, is developed in collaboration with the Indian Council of Medical Research (ICMR) - National Institute of Virology (NIV).

COVAXIN is currently being administered under emergency use authorizations in 13 countries, and applications for emergency use authorization are pending in more than 60 additional countries.