Last year, Ocugen (NASDAQ: OCGN) shares soared more than 700% over just a few days. Why? The company signed an agreement to co-commercialize Bharat Biotech's coronavirus vaccine in the U.S. The companies later added rights in Canada to the agreement too. Bharat's product -- Covaxin -- already had gained emergency authorization in its home country of India.
The road hasn't been smooth for Ocugen though. U.S. regulators requested more data from the company -- requiring a new trial. And they advised Ocugen to aim for traditional approval rather than an emergency authorization. This adds to the timeline to market. Canada still hasn't authorized Covaxin either. But there may be a bright spot ahead. Ocugen and Bharat amended their agreement to expand Ocugen's co-commercialization rights to Mexico -- a place where Covaxin already has won authorization. After a year of uncertainty, is Ocugen finally on its way to vaccine revenue?
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Is Ocugen Finally on the Way to Vaccine Revenue?