Novavax has acquired Praha Vaccines, will produce COVID-19 drug

Published: 29.05.2020 Related countries:  Japan Japan

American biotechnology company Novavax has for USD 167m acquired from Cyrus Poonawalla Group the Czech company Praha Vaccines in Bohumil near Jevany.

The aim is to start production of a COVID-19 drug at the plant focused on the production of vaccines. Novavax expects to produce more than 1 billion doses of the antigen for vaccine NVX CoV2373 per year as of 2021. The acquisition includes a modern production facility for biological substances and other buildings. The transaction also includes existing employees.