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

Published: 08.07.2020 Related countries:  Czech Republic Czech Republic

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

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.

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