Novavax shares spike over 100% on Sanofi deal to commercialize Covid vaccine, develop combination shots
Publishing timestamp: 2024-05-10 09:59:25
Summary
Novavax has signed a multibillion-dollar deal with French drugmaker Sanofi to co-commercialize its Covid vaccine starting next year. The deal allows Sanofi to use Novavax's Covid shot and flagship vaccine technology to develop new vaccine products. This agreement will help Novavax lift its "going concern" warning and marks a turning point for the struggling vaccine maker. Novavax will lead commercialization of its Covid shot for the rest of this year and transfer most of that responsibility to Sanofi in 2025.
Sentiment: POSITIVE
Tickers: NVAX, SAN-FR, PFE, SNY, MRNA,
Keywords: sanofi sa, health care industry, science, pfizer inc, business news, business, biotech and pharmaceuticals, biotechnology, breaking news, pharmaceuticals, novavax inc, moderna inc,