Sunday, June 22, 2025
  • Login
Euro Times
No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
Euro Times
No Result
View All Result

Gavi rejects Novavax’s claim on COVID vaccine deal breach By Reuters

by Reuters
November 22, 2022
in Stock Market
Reading Time: 2 mins read
A A
0
Home Stock Market
Share on FacebookShare on Twitter


© Reuters. FILE PHOTO: Vials with a sticker reading, “COVID-19 / Coronavirus vaccine / Injection only” and a medical syringe are seen in front of a displayed Novavax logo in this illustration taken October 31, 2020. REUTERS/Dado Ruvic/Illustration

(Reuters) – Global vaccine alliance Gavi on Tuesday rejected Novavax (NASDAQ:)’s claim that the group had breached an advance purchase agreement to procure 350 million doses of the company’s COVID-19 vaccine.

Novavax said on Monday that it had issued a notice to Gavi for terminating the agreement with immediate effect, citing the alliance’s failure to procure the doses it had agreed to buy in May last year for the COVAX facility, a global vaccine distribution program.

The company’s shares were down nearly 9% in afternoon trade.

“It is clear that Novavax will not be able to meet its commitment to manufacture” the doses under the agreement for COVAX before the end of 2022, a Gavi spokesperson told Reuters.

More than 18 months after signing the agreement, Novavax has not been able to make a single dose available to COVAX from the contractually stipulated sites to-date, Gavi said.

Gavi added that it reserved all rights, including the recovery of advance payments to the company.

Novavax received a non-refundable advance payment of $350 million from Gavi last year and an additional $350 million this year after the vaccine got the World Health Organization’s emergency use listing.

In response to Gavi’s statement, the company reiterated that it has been ready to meet its commitment to manufacture and deliver doses for the COVAX facility.

Novavax also has a pact with Serum Institute of India for manufacturing a version of the vaccine under the brand Covovax, which would also be supplied to the COVAX facility.

Gavi’s spokesperson said Serum Institute had a 300 million dose commitment for Covovax, with options for 750 million more doses if needed.

A spokesperson for Serum Institute declined to comment.

Novavax recently cut its full-year forecast yet again, hurt by late authorizations of its COVID vaccine globally amid a waning demand for shots.



Source link

Tags: breachclaimCoviddealGaviNovavaxsrejectsReutersVaccine
Previous Post

Michigan House Speaker Sneers at Election Integrity Legislators, Refuses 2022 Voter Fraud Investigation

Next Post

Findings From Franklin Templeton’s RIA Technology Report: Elevating The Digital Client Experience

Related Posts

Novo Nordisk And Its Real Value (NYSE:NVO)

Novo Nordisk And Its Real Value (NYSE:NVO)

by Grant Gigliotti
June 21, 2025
0

This text was written byObserveGrant Gigliotti is the founding father of Beat The Market Analyzer, a number one worth investing...

20 Things You May Not Know About Markets (or That Might Surprise You). #1 – Normal Stock Market Returns are Extreme – Meb Faber Research

20 Things You May Not Know About Markets (or That Might Surprise You). #1 – Normal Stock Market Returns are Extreme – Meb Faber Research

by Meb Faber
June 21, 2025
0

We’re beginning a brand new sequence right here that can ultimately be a brief paper, however thought we’d drip these...

Intuitive Surgical Stock: Poor Return Prospects Despite Upside Da Vinci 5 (NASDAQ:ISRG)

Intuitive Surgical Stock: Poor Return Prospects Despite Upside Da Vinci 5 (NASDAQ:ISRG)

by Richard Durant
June 20, 2025
0

This text was written byComply withRichard Durant is the chief of Narweena, an asset supervisor centered on discovering market dislocations...

An Overview of Digestive Maladies

An Overview of Digestive Maladies

by mjorrin
June 19, 2025
0

The digestive tract runs from the place the place the meals is available in to the opposite place the place...

TCW Compounders ETF: Little Growth For The Price, Hold (NYSE:GRW)

TCW Compounders ETF: Little Growth For The Price, Hold (NYSE:GRW)

by Doodad Capital
June 19, 2025
0

This text was written byObserveI'm a younger particular person investor specializing to find and analyzing deep worth and progress alternatives....

OppFi: Fintech’s Dark Horse Is Charging Ahead (NYSE:OPFI)

OppFi: Fintech’s Dark Horse Is Charging Ahead (NYSE:OPFI)

by Yiannis Zourmpanos
June 18, 2025
0

This text was written byComply withHello, I am Yiannis. Recognizing winners earlier than they get away is what I do...

Next Post
Findings From Franklin Templeton’s RIA Technology Report: Elevating The Digital Client Experience

Findings From Franklin Templeton's RIA Technology Report: Elevating The Digital Client Experience

Abercrombie & Fitch, Disney, Best Buy, Zoom and more

Abercrombie & Fitch, Disney, Best Buy, Zoom and more

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Spain reaches deal with NATO ahead of summit to be excluded from 5% defense spending goal

Spain reaches deal with NATO ahead of summit to be excluded from 5% defense spending goal

June 22, 2025
Chopper crashes must lead up to better regulation

Chopper crashes must lead up to better regulation

June 22, 2025
Real Madrid vs. Pachuca From Anywhere for Free: Stream FIFA Club World Cup Soccer

Real Madrid vs. Pachuca From Anywhere for Free: Stream FIFA Club World Cup Soccer

June 22, 2025
Dogecoin Falls Below alt=

Dogecoin Falls Below $0.16: Here’s How Its Price Action Could Play Out

June 22, 2025
Bitcoin crashes on Iranian Parliament approval of Hormuz Strait closure

Bitcoin crashes on Iranian Parliament approval of Hormuz Strait closure

June 22, 2025
Armenian PM ‘Acts Like Dictator’

Armenian PM ‘Acts Like Dictator’

June 22, 2025
Euro Times

Get the latest news and follow the coverage of Business & Financial News, Stock Market Updates, Analysis, and more from the trusted sources.

CATEGORIES

  • Business
  • Cryptocurrency
  • Finance
  • Health
  • Investing
  • Markets
  • Politics
  • Stock Market
  • Technology
  • Uncategorized
  • World

LATEST UPDATES

Spain reaches deal with NATO ahead of summit to be excluded from 5% defense spending goal

Chopper crashes must lead up to better regulation

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In