Aurobindo Pharma after tieup with COVAXX for COVID-19 vaccine in India

COVAXX is currently conducting a Phase 1 clinical trial for the vaccine candidate.

Aurobindo Pharma and US-based COVAXX have entered into an exclusive license agreement to develop, commercialize and manufacture UB-612, the first multitope peptide-based vaccine to fight COVID-19, for India and the United Nations Children's Fund (UNICEF) agency.

Under the signed agreement, Aurobindo Pharma has obtained the exclusive rights to develop, manufacture and sell COVAXX's UB-612 vaccine in India and to UNICEF, as well as non-exclusive rights in other select emerging and developing markets.

Aurobindo Pharma and COVAXX are partnering on clinical development, manufacturing and marketing of COVAXX's vaccine candidate, UB-612. The pharmaceutical company will manufacture the finished doses at its facilities in Hyderabad (Telangana). Aurobindo Pharma has the capacity of manufacturing 220 million doses in multi-dose presentation and is building additional facilities to have a total capacity of nearly 480 million doses by June 2021, the company said in a statement before market hours today, 24 December 2020.

Commenting on the development, N. Govindarajan, the managing director (MD) of Aurobindo Pharma, said that: "We are proud to partner with COVAXX in developing the first-ever synthetic peptide-based vaccine to combat the COVID-19 pandemic. This vaccine has immense potential in eliminating shedding, and hence containing, the spread of the pandemic."

Aurobindo Pharma's consolidated net profit rose 26% to Rs 805.65 crore on 15.6% rise in net sales to Rs 6,377.91 crore in Q2 September 2020 over Q2 September 2019.

Shares of Aurobindo Pharma rose 0.97% to Rs 898.50. Aurobindo Pharma manufactures generic pharmaceuticals and active pharmaceutical ingredients.

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