U.S. drug developer Novavax mentioned on Tuesday it was doubling its potential COVID-19 vaccine manufacturing capability to 2 billion doses yearly below an settlement with Serum Institute of India, sending its shares up about 7%.
In August, Novavax signed a cope with Serum Institute, the world’s largest producer of vaccines, to provide a minimal of 1 billion doses of its vaccine candidate, when authorized, for low and middle-income international locations and India.
As a part of the expanded settlement, Serum Institute can even manufacture the antigen element of the vaccine, dubbed NVX-CoV2373, which Novavax mentioned will deliver its manufacturing capability to over two billion doses by mid-2021.
Novavax’s vaccine is at present in mid-stage trials after an early-stage examine confirmed it produced excessive ranges of antibodies in opposition to the novel coronavirus. The firm plans to start late-stage trials within the third quarter.
Last month, Novavax mentioned it’s going to provide 60 million doses of its coronavirus vaccine candidate to the UK starting as early as the primary quarter of 2021.
The firm can also be getting ready to ship 100 million doses to the United States by January after it was awarded $1.6 billion for its potential vaccine, and has additionally signed provide agreements with Canada and Japan.
Other drugmakers reminiscent of Pfizer and Moderna have already begun massive late-stage research of their experimental vaccines.
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