French pharmaceutical giant Sanofi announced a major collaboration with Novavax on Friday, May 10th, 2024. The deal focuses on two key areas: distribution of Novavax's existing COVID-19 vaccine and development of a combined COVID-flu vaccine.
Under the agreement, Sanofi gains co-commercialization rights for Novavax's protein-based COVID-19 vaccine, expanding its reach to new markets worldwide (excluding certain territories). This collaboration leverages Sanofi's extensive sales network to provide broader access to Novavax's vaccine.
The deal also paves the way for the development of a next-generation vaccine – a combination shot protecting against both COVID-19 and influenza. This innovative approach could offer patients enhanced convenience and protection with a single vaccination.
Financial details of the agreement include a $500 million upfront payment to Novavax from Sanofi, with potential for additional payments tied to development, regulatory, and launch milestones, reaching a total of $1.2 billion. Sanofi will also hold a minority equity stake in Novavax and contribute to future research, development, and commercialization efforts.
This collaboration between Sanofi and Novavax is a significant development in the ongoing fight against COVID-19. It has the potential to increase access to existing vaccines and accelerate the development of new combination vaccines offering broader protection.
