Jubilant HollisterStier LLC, enters into Manufacturing Partnership for Production of COVID-19 Vaccine Candidate, COVAXIN® in the US

Jubilant HollisterStier LLC, a step down subsidiary of Jubilant Pharmova Limited, has entered into a manufacturing partnership with Ocugen, Inc. (NASDAQ: OCGN), a biopharmaceutical company, for manufacturing of vaccine candidate COVAXIN® for the US and Canadian markets.

"We are excited to expand our basket of vaccine products and meet the increasing demand from our customers for COVID-19 vaccines in the US." said Amit Arora, President Jubilant HollisterStier.

"We are pleased to partner with Ocugen and support the ongoing fight against COVID-19. With two facilities in North America working to manufacture multiple COVID-19 vaccines and therapies, we remain committed to supporting efforts to eradicate this global pandemic." stated Pramod Yadav, CEO Jubilant Pharma Limited.

"We are fully committed to bringing COVAXIN to the US and Canadian markets because it has the potential to save lives by adding a weapon to the arsenal in the fight against emerging variants." said J.P. Gabriel, Senior Vice President, Manufacturing and Supply Chain. "Securing US-based manufacturing capability is a critical step as we prepare to submit our regulatory submissions to the FDA and Health Canada. Based on Bharat Biotech's strong track record of developing and commercializing vaccines globally and Jubilant's proven track record in manufacturing, we are well-prepared to transition US manufacturing of COVAXIN® to our new partner."

Shares of Jubilant Pharmova Limited was last trading in BSE at Rs.754.8 as compared to the previous close of Rs. 763.2. The total number of shares traded during the day was 45707 in over 3676 trades.

The stock hit an intraday high of Rs. 778.8 and intraday low of 751.95. The net turnover during the day was Rs. 34779644.

Source : Equity Bulls

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