No­vavax’s trou­bles con­tin­ue as Covid vac­cine mak­er plans an­oth­er $300M+ in cost-cut­ting

No­vavax, which has been reel­ing from a slow roll­out of its Covid-19 vac­cine com­pared to the mR­NA mak­ers, said it will once again cut costs.

Like Pfiz­er, BioN­Tech and Mod­er­na, the Gaithers­burg, MD-based com­pa­ny is ad­just­ing to a world in which the virus turns en­dem­ic and vac­cine up­take isn’t as swift as it was in the ear­ly years of the pan­dem­ic. Now, No­vavax is “pre­pared to ini­ti­ate” more than $300 mil­lion in cost-cut­ting next year to “align com­pa­ny scope and struc­ture with fu­ture Covid-19 mar­ket op­por­tu­ni­ty,” the com­pa­ny said Thurs­day in its third-quar­ter up­date.

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