BUZZ-Novavax rises on $200 mln Czech manufacturing site sale to Novo Nordisk

Reuters
04 Dec 2024
BUZZ-Novavax rises on $200 mln Czech manufacturing site sale to Novo Nordisk

** Shares of vaccine maker Novavax NVAX.O gain 4.6% to $8.80 premarket

** NVAX to sell its Czech Republic manufacturing facility to Novo Nordisk NOVOb.CO for $200 mln, co says

** NVAX expects to reduce annual operating costs by ~$80 mln

** The deal expected to close by Dec. 30

** NOVO up 0.5% at $109.73 premarket

** 3 of 6 brokerages rate NVAX "buy" or higher, 2 "hold" and 1 "sell"; their median PT is $19 - LSEG

** As of last close, NVAX has risen 75.2% YTD

(Reporting by Kamal Choudhury in Bengaluru)

((Kamal.Choudhury@thomsonreuters.com;))

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