Corporate Grapevine

Published: Dec 29, 2021
Updated: Dec 29, 2021

Overseas ‘no’ on Covaxin, a blow to Bharat Biotech

Even though the Indian government’s vaccine policy is tilted in favour of local companies like Bharat Biotech, foreign governments are not clearing the vaccine for travel to their countries. This is a big setback for Bharat Biotech, which was expecting a multi-billion valuation after it started producing the Covid vaccine.

The US FDA has not cleared the vaccine, which means anyone who has taken Covaxin shot will not be able to travel to the US and the UK — the two countries most frequented by Indians.

Bharat Biotech, meanwhile, is submitting all the data to the World Health Organisation and US FDA for clearance. The company’s founder hopes their clearance will come soon so that the company can get a better valuation.