Pharmaceutical company Novavax has acquired Praha Vaccines for $167M to ramp up production capacity.
“Manufacturing capacity is a critical component of our strategy to deliver a vaccine for the COVID-19 pandemic. This acquisition provides the vital assets required to produce more than 1 billion doses per year. In parallel with ramping up production at Bohumil, we will continue efforts to expand antigen capacity in the U.S. and Asia, and increase production of Matrix-M to match antigen capacity at multiple sites globally.”
Stanley C. Erck, President and Chief Executive Officer of Novavax
Novavax stock is up more than 300% since the beginning of March on COVID-19 vaccine hopes, so production is a critical part of justifying that valuation.