The United States Government has agreed to purchase 1.5 million doses more than the Novavax COVID-19 Vaccinethe company reported Monday, adding that the modified agreement includes funds for the development of an updated vaccine by fall of this year.
Sales of the company’s vaccine have been hit by a global glut and declining demand, prompting Novavax to cut its annual revenue forecast for the shots twice last year.
The protein-based vaccine was expected to win over skeptics of new mRNA-based virus vaccines from competitors such as Pfizer y Modern.
The agreement has come despite the fact that the United States plans to end its COVID-19 emergency declarations on May 11, almost three years after it imposed restrictive measures to slow the spread of the pandemic.
Novavax did not provide financial details of the contract.
The United States Food and Drug Administration (FDA) it is also simplifying its vaccination policy against COVID-19, while it studies whether it would be advisable to recommend an annual booster dose to Americans against the virus.
Shares of the vaccine maker were up 3.2% before the start of the session on Monday, after the Wall Street Journal initially reported the news.
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