Novavax to sell Czech manufacturing unit to Novo Nordisk for $200 million [Yahoo! Finance]
Novavax, Inc. (NVAX)
Last novavax, inc. earnings: 3/11 04:17 pm
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Source: Yahoo! Finance
The company has struggled to keep pace with rival vaccine makers Moderna and Pfizer, which reported more than $3 billion in combined sales for their mRNA COVID-19 shots in the third quarter. It had also raised doubts about its ability to stay in business in 2023. The divestiture of the Czech facility follows U.S.-based Novavax's licensing deal worth at least $1.2 billion with French drugmaker Sanofi for its COVID-19 vaccine, in exchange for the latter taking a nearly 5% stake in the firm. Novavax shares have risen about 88% since the Sanofi deal in May. "The decision to sell the Czech Republic manufacturing facility aligns with our previously announced commitment to evolve Novavax into a more lean and agile organization focused on partnering our pipeline assets and technology platform," CEO John Jacobs said in a statement. The company expects the sale of the unit to result in annual operating cost reductions of about $80 million. Novo Nordisk did not immediately respond to
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NVAX
News
- Novavax Advances Corporate Growth Strategy Through Sanofi Partnership, Including Achievement of First $50 Million MilestonePR Newswire
- Why Is Novavax (NVAX) Up 13.6% Since Last Earnings Report? [Yahoo! Finance]Yahoo! Finance
- Institutional investors control 53% of Novavax, Inc. (NASDAQ:NVAX) and were rewarded last week after stock increased 6.3% [Yahoo! Finance]Yahoo! Finance
- FDA Grants Fast Track Tag to SNY's Two COVID & Flu Vaccine Candidates [Yahoo! Finance]Yahoo! Finance
- NVAX Starts Late-Stage Study on COVID-19-Flu Combo & Flu Vaccines [Yahoo! Finance]Yahoo! Finance
NVAX
Earnings
- 11/12/24 - Beat
NVAX
Sec Filings
- 1/3/25 - Form 4
- 1/2/25 - Form 4
- 1/2/25 - Form 4
- NVAX's page on the SEC website