Ocugen Inc. (NASDAQ: OCGN) stock gained by 2.12% at last close while the OCGN stock price soars during pre-market trading by 4.95%. Ocugen, Inc. is a biopharmaceutical firm specializing on the discovery, development, and commercialization of gene therapies to treat blindness and the development of a COVID-19 vaccine.
What is happening?
Ocugen has chosen Jubilant HollisterStier of Spokane, Washington as its manufacturing partner for COVAXIN in order to prepare for commercial manufacture of COVAXIN in the US and Canada.
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COVAXIN, Bharat Biotech’s COVID-19 vaccine, was created in conjunction with the Indian Council of Medical Research’s National Institute of Virology (NIV). COVAXIN is a highly purified and inactivated vaccine made on a vero cell technology.
J.P. Gabriel, Ocugen’s Senior Vice President, Manufacturing and Supply Chain stated,
COVAXIN has the capability to save lives by bringing a weapon to the armory in the battle against developing variations, and OCGN is completely dedicated to delivering it to the US and Canadian markets. As we plan to file our regulatory filings to the FDA and Health Canada, securing US-based manufacturing capacity is a key step. OCGN is well-prepared to transition US manufacture of COVAXIN to their new partner, based on Bharat Biotech’s excellent track record of developing and commercializing vaccines internationally and Jubilant’s excellent track record in production.
Amit Arora, President Jubilant HollisterStier commented,
OCGN is delighted to expand their vaccination product line and fulfill the growing demand for COVID-19 vaccines from their clients in the United States.
Pramod Yadav, CEO Jubilant Pharma Limited stated,
OCGN is proud to collaborate with Ocugen and assist the continuing COVID-19 battle. OCGN is dedicated to assisting efforts to eradicate the worldwide pandemic, with two sites in North America manufacturing various COVID-19 vaccines and treatments.