Novavax Buys Praha Vaccines for $167 Million to Boost COVID-19 Vaccine Production

(Reuters) – Drug developer Novavax Inc on Wednesday acquired Praha Vaccines, a unit of India’s Cyrus Poonawalla Group, for about $167 million as it looks to boost capacity to produce its COVID-19 vaccine candidate.

The acquisition includes a biologics manufacturing facility in Czech Republic, the company said, adding that the facility is expected to provide an annual capacity of over 1 billion doses of antigen starting in 2021 for its COVID-19 vaccine candidate, NVX‑CoV2373.

(Reporting by Manojna Maddipatla in Bengaluru; Editing by Anil D’Silva)

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