NVAX

Novavax, Gavi Settle Pending Arbitration Related To Vaccine Advance Purchase Agreement

(RTTNews) - Novavax, Inc. (NVAX) and Gavi, the Vaccine Alliance, have reached a settlement related to the 2021 Advance Purchase Agreement for Novavax's prototype COVID-19 vaccine, NVX-CoV2373. This brings the pending arbitration related to the 2021 Advance Purchase Agreement to a close. Novavax has made an initial payment of $75 million to Gavi and has agreed to make deferred payments of $80 million annually through December 31, 2028, which are due in quarterly installments and total up to $400 million.

John Jacobs, CEO, Novavax, said: "We look forward to a long-term partnership with Gavi to provide continued access to our protein-based non-mRNA COVID-19 vaccine."

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