Novavax (NVAX) said Wednesday it has agreed to sell its manufacturing facility in Bohumil, Czech Republic, to Novo Nordisk (NVO) for $200 million.
The asset sale includes a 150,000-square-foot recombinant protein manufacturing facility with support buildings.
The consideration for the deal consists of a $190 million cash payment, and a $10 million additional payment in 2025.
The company also expects the deal to reduce its annual operating costs by about $80 million.
The deal is anticipated to close by Dec. 30.
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