Ocugen plans to sell 100 million Indian COVAXIN doses in U.S. this year

Pennsylvania-based biopharmaceutical firm, Ocugen Inc., plans to sell 100 million doses of India’s state-backed COVID-19 vaccine in the United States this year, the firm’s chief executive Shankar Musunuri stated on Monday.

The firm aims to launch the Indian-developed vaccine with imported shots in the US in the second quarter of 2021 before beginning production there.

Earlier this month, Bharat Biotech and the state-run Indian Council of Medical Research, the developers of India’s two-dose COVAXIN, stated that the vaccine is 81% effective in an interim analysis of late-stage trial data on approximately 26,000 people in India.

Bharat Biotech further emphasized that as many as 40 countries are interested in COVAXIN, the company has already sought emergency approvals in Brazil and the Philippines.

Ocugen has held initial talks with the U.S. Food and Drug Administration and plans to seek emergency use authorization in April, Musunuri has further stated.

COVAXIN has the potential to work against COVID-19 variants, such as the British strain of coronavirus, and is likely to be safe to use on children over the age of 12 as compared to shots produced by other drugmakers that targeted adults.

The company hopes that the vaccine could be used as a booster for people who have already been vaccinated.

Musunuri said that Bharat Biotech would export “tens of millions of doses” to Ocugen, who will have the U.S. rights to the vaccine and will be responsible for its clinical development, regulatory approval, and commercialization. Bharat Biotech will also transfer its technology, and keep 55% of the profit.

Shares in Ocugen have nearly tripled this year, taking it close to a $2 billion mark.

The United States has previously authorized COVID-19 vaccines developed by Pfizer/BioNTech, Moderna, and Johnson & Johnson for emergency use.