Novavax Resolves $400M Dispute with Gavi Over COVID-19 Vaccines
Novavax has resolved a dispute with Gavi, agreeing to repay $80 million per year until 2028, totaling up to $400 million, instead of the original $700 million. In addition, the company will provide an annual vaccine credit for Gavi to acquire doses of any vaccine for low and lower-middle income countries. Novavax CEO John Jacobs stated that the agreement resolves the outstanding financial matter and the company is looking to the future with cost-cutting measures and new revenue opportunities, including a combination COVID-flu vaccine and a malaria vaccine.