Novavax (NVAX) has released an update.
Novavax, Inc. has reached a settlement with Gavi Alliance, concluding their previous advance purchase agreement and resolving arbitration disputes. Novavax will make a $75 million payment and additional annual payments totaling $400 million by the end of 2028. These payments can be offset by vaccine credits used by Gavi for sales to certain low and lower-middle-income nations. Moreover, Novavax has committed to equitable vaccine pricing for these countries and has provided Gavi with an extra credit of up to $225 million for exceeding sales, alongside a security interest in receivables from the Serum Institute of India for a malaria vaccine supply.
For further insights into NVAX stock, check out TipRanks’ Stock Analysis page.
