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Motilal Oswal Report
Aurobindo Pharma Ltd. and Covaxx, a U.S. based company have signed an exclusive agreement to develop, manufacture and commercialize a Covid-19 vaccine (UB-612) for India and United Nations Children's Fund (UNICEF).
UB-612 is currently in Phase I trials, with Phase II/III to begin in Q1 CY21.
With investments of Rs 1.5 billion under progress to create an annual capacity (to be ready by June 2021) of 480 million doses, the revenue potential from this vaccine could be approximately 280 million U.S. dollar/580 million U.S. dollar in FY22E/FY23E, subject to regulatory approvals.
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