Novavax deal with Takeda for COVID-19 vaccine candidate in Japan
US biotech Novavax (Nasdaq: NVAX) saw its shares gain as much as 6% on Friday, after it revealed it has entered into a partnership with Japan’s largest drugmaker Takeda Pharmaceutical (TYO: 4502) for the development, manufacturing and commercialization of NVX‑CoV2373, Novavax’ COVID‑19 vaccine candidate, in Japan.
Takeda will receive funding from Japan’s Ministry of Health, Labor and Welfare (MHLW) to support the technology transfer, establishment of infrastructure and scale-up of manufacturing. Takeda anticipates the capacity to manufacture over 250 million doses of the COVID-19 vaccine per year.
“Takeda’s leading position in Japan, technical expertise, regulatory know-how and manufacturing capacity make the company an ideal partner to further expand the global availability of NVX‑CoV2373,” said Stanley Erck, president and chief executive of Novavax.
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