Congress Questions Centre's Silence On Covaxin Pricing Controversy In Brazil

Congress spokesperson Supriya Shrinate stressed it is a serious issue of corporate governance if these allegations are to be believed.

The Congress Party on Friday cornered the central government over the Covaxin pricing controversy in Brazil and asked the Centre why it is "conspicuously silent" on the matter. Briefing medipersons, Congress spokesperson Supriya Shrinate said, "It is important for us to raise these questions because Bharat Biotech may be a private entity, but, the public fund was diverted for the development of this vaccine. Taxpayers' money was put into this and which is why we have a right to question: what has happened with that money and why is the government conspicuously silent on it?" The Congress leader said Bharat Biotech had made an agreement with Precisa Medicamentos of Brazil and they had signed a contract to supply 20 million doses to the country. However, according to media reports, Bharat Biotech allegedly had quoted a price of USD 1.34 per dose of Covaxin which was jacked up to USD 15 per dose. The Brazilian opposition and the senate have raised the issue following which criminal investigative agencies are probing the matter. Brazilian agencies are also probing an offshore possible fund diversion by an entity called Madison Biotech related to Bharat Biotech. She further said that the question is that ICMR was slated to get 5 per cent of the profit from the sale of Covaxin. But, allegations are that Bharat Biotech was selling the vaccine to Madison Biotech at a lower price.