Stock Track | Novavax Soars 7.61% as It Sells Czech Manufacturing Site to Novo Nordisk for $200M and Reduces Costs

Stock Track

Dec 04, 2024

Novavax Inc. (NVAX) saw its stock surge 7.61% over a 24-hour period, driven by the company's announcement of selling its manufacturing facility in Bohumil, Czech Republic, to Novo Nordisk for $200 million.

The agreement involves the transfer of a 150,000-square foot state-of-the-art recombinant protein manufacturing facility, along with the existing workforce and related infrastructure. Novavax will receive a cash payment of $190 million in 2024 and an additional $10 million in 2025.

According to Novavax, the sale aligns with the company's strategy to evolve into a leaner and more agile organization focused on partnering its pipeline assets and proven technology platform. Moreover, the company expects annual operating cost reductions of approximately $80 million from the sale.

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(NVAX) saw its stock surge 7.61% over a 24-hour period, driven by the company's announcement of selling its manufacturing facility in Bohumil, Czech Republic, to Novo Nordisk for $200 million.</p>\n\n<p>The agreement involves the transfer of a 150,000-square foot state-of-the-art recombinant protein manufacturing facility, along with the existing workforce and related infrastructure. Novavax will receive a cash payment of $190 million in 2024 and an additional $10 million in 2025.</p>\n\n<p>According to Novavax, the sale aligns with the company's strategy to evolve into a leaner and more agile organization focused on partnering its pipeline assets and proven technology platform. 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