Canada to purchase 76 million doses of Novavax coronavirus vaccine, company says


Dr. Nita Patel, Director of Antibody discovery and Vaccine development, lifts a vial with a potential coronavirus, COVID-19, vaccine at Novavax labs in Gaithersburg, Maryland on March 20, 2020, one of the labs developing a vaccine for the coronavirus, COVID-19.

Andrew Caballero-Reynolds | AFP | Getty Images

American vaccine developer Novavax announced Monday that it’s reached an agreement in principle with Canada to supply 76 million doses of its experimental coronavirus vaccine to the country.

The company said it expects to finalize an agreement to supply Canada with doses “as early as the second quarter of 2021.” The agreement is contingent on the vaccine getting a license from Health Canada, the company said.

Shares of Novavax rose more than 4% in early morning trading on the news. 

“We are moving forward with clinical development of NVX-CoV2373 with a strong sense of urgency in our quest to deliver a vaccine to protect the world,” Novavax CEO Stanley Erck said in a statement.

The company did not disclose the financial terms of the agreement.

The company’s vaccine, called NVX-CoV2373, is currently in phase two trials. The company has previously said it could begin late-stage trials as early as October. 

“This is an important step in our government’s efforts to secure a vaccine to keep Canadians safe and healthy, as the global pandemic evolves,” Anita Anand, Canada’s minister of Public Services and Procurement, said in a statement.

This is breaking news. Check back here for updates.



Source link

Discover

Sponsor

spot_imgspot_img

Latest

U.S. and EU have a lot of work to do to rebuild trade relationship

American and European policymakers are saying all the right things about a new approach to transatlantic trade. The last few years have been marked...

U.S. disturbed over Kremlin critic Navalny’s deteriorating health

A still image taken from video footage shows Russian opposition leader Alexei Navalny, who is accused of flouting the terms of a suspended...

Keep its growing businesses or split them

FG Trade | E+ | Getty ImagesCompany: Harmonic Inc. (HLIT)Business: Harmonic provides video delivery software, products, system solutions, and services worldwide. Its products...

COPD Community: Where to Find Support

Valerie Chang was first diagnosed with chronic obstructive pulmonary...

TaskUs IPO pop on Nasdaq values company at $2.8 billion

TaskUs co-founders Bryce Maddock (left) and Jaspar WeirTaskUsFor Bryce Maddock and Jaspar Weir, the journey to the Nasdaq started in high school in...