Europe To Get Novavax COVID-19 Vaccines But Not Before End Of 2021: Reuters

Vandana Singh
2 min read
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In this article:

  • Novavax Inc (NASDAQ: NVAX) has told the European Union it plans to begin delivering its COVID-19 vaccine to the bloc towards the end of this year,

  • A formal contract could be signed as early as this week, an E.U. official told Reuters.

  • A deal would see Novavax supply a total of up to 200 million doses of the vaccine, providing the E.U. with booster shots to help contain the coronavirus and potentially guard against new variants.

  • Novavax reached a preliminary deal with the union in December, but a final agreement got delayed because it has struggled to source some raw materials.

  • The E.U. official said Novavax still had production problems, but a "delivery schedule" has changed the scene.

  • Novavax plans to send the first small shipments towards the end of this year, with the bulk to be delivered in 2022, according to the official, who said the shots would complement a huge planned supply of vaccines from Pfizer Inc (NYSE: PFE) and BioNTech SE (NASDAQ: BNTX).

  • Novavax said its negotiations with the E.U. were continuing. It declined to comment.

  • E.U.'s purchases remain conditional on the regulatory approval of the Novavax vaccine, which has been assessed under a rolling review by the European Medicines Agency (EMA) since February and has not yet been approved anywhere in the world.

  • E.U. has already penned a deal with Pfizer-BioNTech to supply up to 1.8 billion doses of their vaccine in 2022 and 2023.

  • Earlier today, Novavax initiated a pediatric expansion of its Phase 3 PREVENT-19 trial for NVX-CoV2373, its COVID-19 vaccine candidate.

  • Last week, the company received an additional 7.3 million as part of Operation Warp Speed to develop its COVID-19 vaccine.

  • Price Action: NVAX shares are down 17.4% at $195.84 during market trading hours on the last check Monday.

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