Endo International to manufacture Novavax’s candidate COVID-19 vaccine

By: Wajeeh Khan
Wajeeh Khan
Wajeeh is an active follower of world affairs, technology, an avid reader, and loves to play table tennis in… read more.
on Sep 25, 2020
  • Endo International to manufacture Novavax’s candidate COVID-19 vaccine.
  • Novavax started phase 3 trials for its COVID-19 vaccine in the U.K.
  • AstraZeneca receives partial immunity from the European Union.

Novavax Inc. (NASDAQ: NVAX) said that Endo International (NASDAQ: ENDP) will be in charge of manufacturing its COVID-19 vaccine after the two companies inked a non-exclusive agreement on Friday. Earlier this year in July, the U.S. government invested £1.27 billion in Novavax under its “Operation Warp Speed” program.

In a separate statement, Endo said that its subsidiary, Par Sterile, has dedicated a manufacturing facility in Rochester for the production of Novavax COVID-19 vaccine. Financial and related terms of the deal were not disclosed at this stage.

Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today.

Endo closed the regular session about 1.5% down on Friday. The Dublin-based pharmaceutical company has recovered just under 50% since March. Trading stocks online is easier than you think. Here’s how you can buy shares online in 2020.

Novavax started phase 3 trials for its COVID-19 vaccine in the U.K.

The experimental vaccine that Novavax is calling NVX-CoV2373 will be used in the late-stage clinical trial in the United States. If the vaccine receives regulatory approval, it will also be distributed to the public.

Novavax said in a statement on Thursday that it had begun its phase 3 trial in the United Kingdom. CEO Stanley Erck also expressed confidence that advanced stage testing will start in the United States very shortly.

Novavax said its trial in the U.K. will enrol close to 10 thousand participants (aged 18 to 84 years) by the end of October. According to President Gregory M. Glenn of Novavax Research and Development:

“With a high level of SARS-CoV-2 transmission observed and expected to continue in the U.K., we are optimistic that this pivotal Phase 3 clinical trial will enrol quickly and provide a near-term view of NVX-CoV2373’s efficacy. The data from this trial is expected to support regulatory submissions for licensure in the U.K., E.U., and other countries. We are grateful for the support of the U.K. Government, including from its Department of Health and Social Care and National Institute for Health Research, to advance this important research.”

AstraZeneca receives partial immunity from the European Union

In related news, the European Union offered partial immunity to AstraZeneca on Friday regarding potential liabilities attributed to its candidate COVID-19 vaccine.

Shares of Novavax ended about 6% up on Friday. On a year to date basis, Novavax is now more than 200% up in the stock market. At the time of writing, Novavax has a market cap of £5.47 billion.

Invest in crypto, stocks, ETFs & more in minutes with our preferred broker, eToro
67% of retail CFD accounts lose money