Posted 2/22/2024, 11:30:38 AM
Novavax Settles Dispute with Gavi Over Undelivered COVID Vaccines
- Novavax resolves dispute with Gavi over undelivered COVID-19 vaccine doses, originally charged at $700M
- Will repay $80M per year until 2028 (up to $400M total)
- Will get $80M annual vaccine credit for Gavi to buy Novavax vaccines for low-income countries
- Additional $225M credit if more demand, to buy any Novavax vaccines in those countries
- Novavax has cut costs and headcount to refocus away from pandemic failure over past year