Brazil’s Butantan Institute has found the CoronaVac, a COVID-19 vaccine developed by China’s Sinovac Biotech, to be only 50.4% effective, according to CNBC. The efficacy rate is below the earlier reported 78% and barely meets the threshold for regulatory approval.
- Brazilian state-run Butantan Institute has been criticized by health experts and scientists for lack of transparency in making public its trial data.
- Butantan institute reportedly delayed releasing trial results three times, blaming it on a confidentiality clause in its contract with Sinovac.
- Brazil is the first to complete a late-stage trial of the vaccine CoronaVac and last week announced partial data that showed an efficacy rate that was later revised lower.
- Brazil and other developing nations have pinned their hopes on Chinese vaccines as wealthier countries snap up vaccines developed in the West.
- Sinovac’s CoronaVac vaccine is also cheaper and easier to transport because it can be stored in ordinary refrigerators.
- Butantan has requested for CoronaVac to be authorized for emergency use with the health regulator stipulating a minimum of 50% efficacy rate.
Sinovac’s stock is currently declining. SVA: NASDAQ is down 0.31% on premarket
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