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Novavax signs expanded deal with India's Serum Institute for two billion COVID-19 vaccine doses.

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Global Banking News-September 16, 2020-Novavax signs expanded deal with India's Serum Institute for two billion COVID-19 vaccine doses

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US drug and vaccine developer Novavax Inc (Nasdaq:NVAX) has stated that it is doubling its potential COVID-19 vaccine manufacturing capacity to two billion doses annually under an agreement with Serum Institute of India, Reuters news agency reported on Wednesday.

Reportedly, Novavax signed a deal with Serum Institute, the world's largest producer of vaccines, in August 2020, to produce a minimum of one billion doses of its vaccine candidate, when approved, for low- income and middle-income countries and India.

Under the expanded agreement, Serum Institute will also manufacture the antigen component of the vaccine, named NVX-CoV2373, which Novavax said will bring its manufacturing capacity to over two billion doses by mid-2021.

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