Novavax's Quarterly Loss Shrinks as It Ramps Down Spending on Covid Vaccines
Novavax's fourth-quarter loss narrowed on Thursday, helped by reduced selling and administrative expenses of COVID-19 vaccines. The company has struggled to keep up with the pace of rivals Moderna and Pfizer, which make messenger RNA-based vaccines compared to its protein-based shot. Novavax signed a deal worth at least $1.2 billion with French drugmaker Sanofi in May to hand over the rights to sell its vaccines in several markets.
- The decision by Novavax to pivot away from direct vaccine sales highlights the growing importance of partnerships and licensing agreements in the rapidly evolving COVID-19 treatment landscape.
- Will this new focus on Sanofi collaborations lead to a consolidation of the vaccine market, potentially altering the competitive dynamics between established players like Pfizer and Moderna?