US drug developer Novavax announced Tuesday that it has doubled its potential COVID-19 vaccine production capacity to two billion doses per year and increased its shares by about 7% under an agreement with the Serum Institute of India.
In August, Novavax signed a contract with the Serum Institute, the world‘s largest vaccine manufacturer, to manufacture at least one billion doses of its vaccine candidate, if approved, for low- and middle-income countries and India.
As part of the expanded agreement, the Serum Institute will also manufacture the vaccine’s antigen component called NVX-CoV2373, which Novavax says will increase its production capacity to over two billion doses by mid-2021.
Novavax’s vaccine is currently in mid-stage trials after an early study showed it produced high levels of antibodies to the novel coronavirus. The company plans to begin late-stage trials in the third quarter.
Last month, Novavax announced that it will ship 60 million doses of its coronavirus vaccine candidate to the UK as early as the first quarter of 2021.
The company is also preparing to ship 100 million doses to the U.S. by January after receiving $ 1.6 billion for its potential vaccine, and has signed supply agreements with Canada and Japan.
Other drug companies like Pfizer and Moderna have already started extensive late-stage studies of their experimental vaccines.
(Except for the headline, this story was not edited by GossipMantri staff and published from a syndicated feed.)