US-based Novavax, Inc. (NASDAQ: NVAX) has reached an agreement to sell its manufacturing facility located in Bohumil, Czech Republic, to Denmark-based Novo Nordisk A/S (NYSE: NVO) for a total consideration of USD 200 million. The transaction involves the transfer of assets, including a 150,000-square foot state-of-the-art recombinant protein manufacturing facility, support buildings, the existing workforce, and all related infrastructure.
Financial Terms and Operational Impact
Novavax is set to receive a cash payment of USD 190 million within 2024, with an additional USD 10 million due in 2025. The company anticipates annual operational savings of USD 80 million following the deal. This significant, non-dilutive capital injection will enable Novavax to strengthen its early- and late-stage pipeline through its technology platform, which includes Matrix-M adjuvant and nanoparticle protein-based technology.
Deal Closure and Responsibility Transfer
The deal is expected to close by December 30, 2024, at which point Novo Nordisk will assume full responsibility for the manufacturing facility. This acquisition aligns with Novo Nordisk’s strategic expansion in the manufacturing sector and underscores Novavax’s commitment to leveraging its technological expertise for the development of new pharmaceutical products.-Fineline Info & Tech
