Novavax to provide 1.5M more Covid vaccine doses to the US government
Novavax will still be manufacturing Covid vaccine doses for the US government.
On Monday, the Maryland-based vaccine maker announced that, in collaboration with HHS and DoD, it plans to deliver up to 1.5 million doses of its Covid-19 vaccine. The agreement will allow for access to Novavax’s Covid vaccine and help with developing other dosages for different strains of the virus, according to a release from Novavax.
“This agreement acknowledges the need to offer the American people a diverse COVID-19 vaccine portfolio and underscores the importance of Novavax’s partnership with the US government to ensure continuous access to a protein-based option as part of public health measures,” said Novavax CEO John Jacobs in a release.
While Novavax is making more doses for the US government, the order hasn’t necessarily garnered more confidence on Wall Street. Novavax’s stock price $NVAX has stayed even today, only dropping by half a percent. However, the vaccine manufacturer has been facing an 87% drop in its share price since February of last year.
Recently, Japan canceled an order for more than 140 million doses of Novavax’s Covid vaccine, according to a filing from Takeda. The country initially agreed in 2021 to purchase 150 million doses of the vaccine from Takeda, which has been producing Novavax’s vaccine at its Hikari-based facility. But after only purchasing 8.24 million doses, the Ministry of Health, Labour and Welfare canceled the remaining 141.76 million doses.