Novavax Sells Czech Manufacturing Facility to Novo Nordisk for $200 Million
Sale Agreement:
Novavax has agreed to sell its Czech manufacturing plant to Novo Nordisk for $200 million.
Purpose:
The sale is part of Novavax's efforts to cut costs and advance the development of its vaccine pipeline.
Expected Closure:
The deal is expected to be closed by the end of the year1.
Financial Use:
Novavax intends to use the payment from Novo Nordisk to further develop its vaccine pipeline.
Strategic Move:
This sale is a strategic move by Novavax to focus on its core vaccine development activities while reducing operational costs.