Manish Tewari questions vaccine nod without trial

Agencies

January 5, 2021

Ludhiana, Jan 5: Congress leader Manish Tewari has questioned the government's hurry in giving a nod to Bharat Biotech's COVID vaccine without phase-3 trials. The reaction from Tewari comes a day after another Congress leader Shashi Tharoor had raised questions over approval to 'Covaxin'.

Tewari said "The union government has misused the pandemic politically and the controversy over vaccines is the latest, when the vaccine has a question mark over reliability who will get himself vaccinated?"

The Congress leader alleged that the BJP government has done great disservice to the company, in their quest to prove their 'Atmanirbhar Bharat' policy they have licenced a vaccine whose phase-3 trials are not complete.

Tharoor had on Monday criticised the government for giving the nod to Bharat Biotech's 'Covaxin' vaccine without phase-3 trials.

Tharoor had said, "This is all we are saying. Of course, we will be proud if the vaccine turns out to work effectively. But offering it before phase-3 clinical trials have proven its efficacy is a violation of every scientific protocol and unheard of in the world. Jingoism is no substitute for common sense."

The central licensing authority has granted permission to Bharat Biotech to manufacture 'Covaxin' for sale and distribution, after the indigenous coronavirus vaccine received regulatory approval for emergency use.

While Bharat Biotech Chairman Krishna Ella said on Monday that the company does not deserve the backlash it is receiving in the light of India's drugs regulator granting approval for emergency use of Covaxin.

"Don't accuse us of inexperience. We are a global company... have manufactured 16 vaccines," he said, highlighting that "200 per cent honest" clinical trials were conducted.

Ella said the company conducts clinical trials not only in India but also many other countries.

His comments assume significance as Covaxin has been given an emergency approval despite allegedly only two of the required three trial phases being completed.

However, Ella pointed to the number of journal articles Bharat Biotech published and claimed that it was the first to identify Zika virus and file a patent for Zika and Chikungunya viruses.

Bharat Biotech was the only company to have a Bio Safety Level 3 (BSL-3) production facility, he noted.

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Adani Group in Crisis: $30 Billion Wiped Out after US Bribery and Fraud Charges Emerge

News Network

November 21,2024

Shares of Adani Group companies lost about $28 billion in market value in morning trade on Thursday after US prosecutors charged the billionaire chairman of the Indian conglomerate in an alleged bribery and fraud scheme.

Gautam Adani's flagship company Adani Enterprises tumbled 23 per cent, while Adani Ports, Adani Total Gas, Adani Green, Adani Power, Adani Wilmar and Adani Energy Solutions, ACC , Ambuja Cements and NDTV fell between 20 per cent and 90 per cent.

Adani group's 10 listed stocks had a total market capitalisation of about $141 billion at 0534 GMT, compared to $169.08 billion on Tuesday.

US authorities said Adani and seven other defendants, including his nephew Sagar Adani, agreed to pay about $265 million in bribes to Indian government officials to obtain contracts expected to yield $2 billion of profit over 20 years, and develop India's largest solar power plant project.

Adani Green in a statement on Thursday said the US Justice Department had issued a criminal indictment against board members Gautam Adani and Sagar Adani and the Securities and Exchange Commission had issued a civil complaint against them.

The US Justice Department also included Adani Green board member Vneet Jaain in the criminal indictment, it said.

Adani Green's units had decided not to proceed with the proposed US dollar denominated bond offerings due to developments, it added.

"Investors will shy away from Adani Group stocks ... and that's what this sharp selling is signifying," said Saurabh Jain, assistant vice president of retail equities research at SMC Global Securities.

"This could hurt the credibility of the group and maybe borrowing costs will rise," he said.

The indictment comes nearly two years after US shortseller Hindenburg Research alleged that Adani had improperly used tax havens and was involved in stock manipulation, allegations the conglomerate denied.

Also in early Asian trading on Thursday, Adani dollar bonds slumped, with prices down 3c-5c on bonds for Adani Ports and Special Economic Zone. The falls were the largest since the Adani Group came under a short-seller attack in February 2023.

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