Novavax Doubling Coronavirus Vaccine Production Capacity With Expanded India Deal
On Tuesday, Novavax (NASDAQ: NVAX) announced it has, with a single stroke of the pen, vastly increased the potential production capacity of its COVID-19 vaccine. An expansion of its agreement with the Serum Institute of India will allow that company to produce the antigen component of Novavax's vaccine. With that capability, Novavax will be able to have a total of roughly 2 billion doses produced annually.
Last month, the two parties agreed to a deal that lifted Novavax's overall capacity to roughly 1 billion doses.
"With this arrangement, we have now put in place a global supply chain that includes the recently acquired Praha Vaccines and partnerships with leading biologics manufacturers, enabling production on three continents," Novavax quoted its CEO Stanley Erck as saying.
Source Fool.com
