(Reuters) – US drug maker Novavax Inc said Tuesday that it intends to double the number of coronavirus vaccines produced to two billion doses per year, as part of a deal with the Serum Institute of India. This led to a 7% increase in Novavax shares.
In August, Novavax agreed with an Indian institute to ship at least one billion doses of coronavirus vaccine, once approved, to low- and middle-income countries and India.
As part of the extended agreement, the Serum Institute will also produce the antigenic component of a vaccine dubbed NVX-CoV2373, which will allow Novavax to expand its production capacity to more than two billion doses by mid-2021, the American company said.
The Novavax vaccine is currently in mid-stage trials after early-stage research has shown that it leads to the production of large amounts of antibodies to the coronavirus in the body. The company plans to begin phase three trials in the third quarter.
(Akriti Bhalla and Dania Nadim in Bangalore, translated by Olga Devyatiarova. Editor Anna Kozlova)