Novavax offloads Czech facility for $200 million

6 December 2024

Novavax (Nasdaq: NVAX) has agreed to sell its manufacturing plant in the Czech Republic to Novo Nordisk (NOV: N) for $200 million.

The deal, which will provide the company with $190 million in cash next year and an additional $10 million in 2025, includes the transfer of the 150,000-square-foot recombinant protein facility, its support infrastructure, and the existing workforce.

The Maryland-based firm has faced commercial challenges with its protein-based COVID-19 vaccine Nuvaxovid. The sale should help relieve pressure, with annual operating cost reductions of around $80 million.

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