Novavax sells Czech facility to Novo Nordisk for $200 million to focus on vaccine development

From Investing.com: 2024-12-04 06:50:58

Novavax sells Czech Republic manufacturing plant to Novo Nordisk for $200 million to focus on vaccine development. Facing competition from Moderna and Pfizer, Novavax aims to boost financial sustainability. Recent licensing agreement with Sanofi led to 88% stock increase. Sale part of strategy to become more efficient and cut operating expenses by $80 million annually. CEO John Jacobs emphasizes commitment to reshaping business structure.



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