The stock of the US pharmaceutical company Novavax recorded a notable increase, rising by 120% in the premarket, following the release of news that captured the market’s attention: the French pharmaceutical giant Sanofi will take care of the marketing of its vaccine against Covid. This important announcement was made known through a joint press release from the two companies.
“Novavax will receive an initial payment of $500 million from Sanofi,” the two companies communicated, underlining the economic scope of the agreement, which could reach a maximum value of $1.2 billion. The agreement between the two companies provides that the commercialization of the Novavax vaccine by Sanofi will begin from 2025. Furthermore, the agreement includes the possibility for Sanofi to develop combined vaccines against influenza and Covid, based on the technology of the Novavax vaccine.
Another notable aspect of the deal is that the French company will acquire a minority stake in Novavax, specifically less than 5%. This strategic move further strengthens the collaboration between the two entities and opens new perspectives for the future of Covid and influenza vaccination.