You are here: Home » Current Affairs » Coronavirus » News
Business Standard

Novavax, Serum Institute to produce 2 bn Covid vaccine doses under new deal

The U.S. company's vaccine is in mid-stage trials after an early-stage trial showed it produced high levels of antibodies against the novel coronavirus

Topics
Serum Institute of India | Coronavirus | Coronavirus Vaccine

Reuters 

r&d, coronavirus, vaccine, research & development
As part of the expanded agreement, Serum Institute will also manufacture the antigen component of the vaccine, which is dubbed NVX-CoV2373.

US drug developer Novavax Inc said on Tuesday it was doubling its potential Covid-19 vaccine manufacturing capacity to two billion doses annually under an agreement with Serum Institute of India, sending its shares up about 7 per cent.

In August, Novavax signed a deal with Serum Institute, the world's largest producer of vaccines, to produce a minimum of one billion doses of its vaccine candidate, when approved, for low- and middle-income countries and India.

As part of the expanded agreement, Serum Institute will also manufacture the antigen component of the vaccine, dubbed NVX-CoV2373, which Novavax said will bring its manufacturing capacity to over two billion doses by mid-2021.

Novavax's vaccine is currently in mid-stage trials after an early-stage study showed it produced high levels of antibodies against the novel The company plans to begin late-stage trials in the third quarter.

Last month, Novavax said it will supply 60 million doses of its vaccine candidate to the UK beginning as early as the first quarter of 2021.

The company is also preparing to deliver 100 million doses to the United States by January after it was awarded $1.6 billion for its potential vaccine, and has also signed supply agreements with Canada and Japan.

Other drugmakers such as Pfizer Inc and Moderna Inc have already begun large late-stage studies of their experimental vaccines.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, September 15 2020. 23:35 IST
RECOMMENDED FOR YOU