Aurobindo Pharma to make and sell COVAXX's vaccine for India

Under a licensing deal, Aurobindo Pharma Ltd has announced that it would make and sell U.S.-based COVAXX’s COVID-19 vaccines for supply in India and to the United Nations Children’s Fund (UNICEF).

The Indian drug maker also has non-exclusive rights to sell the shot which is currently undergoing an early-stage trial in certain other emerging markets, the Hyderabad-based company said in an exchange filing.

COVAXX, a unit of privately-owned United Biomedical Inc, plans to pursue mid- and late-stage trials for the vaccine candidate from early 2021 in Asia, Latin America and the United States.

The companies said the shot requires normal refrigeration instead of the freezing temperatures required for some vaccines that is seen as beneficial for developing countries.

Aurobindo said it could currently produce 220 million doses, but is ramping up its facilities to reach a capacity of nearly 480 million by June 2021.

Its licensing deal comes as COVID-19 infections in India continue to rise after crossing 10 million last week. It’s the second worst-hit nation by the pandemic after the United States.

Shares of Aurobindo Pharma rose as much as 2.3 per cent and were trading at 1.4 per cent.