Novavax Has Reached A Settlement Related To The 2021 Advance Purchase Agreement For Novavax's Prototype Covid-19 Vaccine (NVX-COV2373)
Portfolio Pulse from Benzinga Newsdesk
Novavax has settled with Gavi over the 2021 Advance Purchase Agreement for its Covid-19 vaccine, NVX-COV2373. The settlement includes an initial payment of $75 million, deferred payments totaling $400 million through 2028, and up to $225 million in additional vaccine credits for low-income countries. This agreement emphasizes both parties' commitment to public health and equitable vaccine distribution.
February 22, 2024 | 11:06 am
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Novavax's settlement with Gavi includes significant financial commitments through 2028 and potential vaccine credits, reflecting a focus on equitable vaccine distribution and public health.
The settlement involves substantial financial obligations for Novavax, but also aligns with its mission towards equitable vaccine distribution. The financial impact is mitigated by the provision for vaccine credits, which could reduce cash obligations. This news may be viewed neutrally by investors as it resolves a legal matter and reinforces Novavax's commitment to global health, but also imposes long-term financial commitments.
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