Press "Enter" to skip to content

US Firm Aims To Make 1 Billion COVID-19 Vaccine Doses After Buying Plant

Norvavax can also be within the race to develop a vaccine for COVID-19 (File)

Novavax Inc is shopping for a producing plant from privately held Serum Institute of India, the world’s largest maker of vaccines by quantity, because the U.S. firm goals to supply 1 billion doses of its COVID-19 vaccine candidate subsequent 12 months.

The U.S. firm stated on Wednesday it will purchase Czech Republic-based Praha Vaccines, a unit of India’s Cyrus Poonawalla Group, which additionally owns Serum Institute, for $167 million in money.

Novavax is one in all a number of firms within the race to develop a vaccine for COVID-19, the illness attributable to the novel coronavirus, that has no present therapy or vaccine and has already killed about 3,50,000 folks.

While consultants have predicted {that a} shot will seemingly take 12-18 months to develop, vaccines are seen by world leaders as the one actual method to restart their stalled economies after months of sweeping lockdowns.

Last week, the United States secured nearly a 3rd of the primary 1 billion doses deliberate for AstraZeneca’s experimental COVID-19 vaccine by pledging as much as $1.2 billion, sparking fears the richest nations will have the ability to shield their residents first.

Novavax on Tuesday enrolled its first participant in an early stage research testing the vaccine candidate in people.

The World Health Organization (WHO) on Friday stated that 10 experimental vaccines have been being examined on people, together with the Novavax compound.

Groups together with CanSino, Moderna and an alliance between Oxford University and AstraZeneca are in numerous phases of growth of a protected and efficient vaccine.

Novavax’s deal will assist present an annual capability of over 1 billion doses of antigen beginning in 2021 for its COVID-19 vaccine candidate, NVX‑CoV2373.

Shares of Novavax, which has no drug in the marketplace, have been down 9% in early buying and selling. The inventory had risen greater than 1,000% in 2020 by means of Tuesday shut.

(Except for the headline, this story has not been edited by NDTV workers and is printed from a syndicated feed.)

Be First to Comment

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    %d bloggers like this: