Novavax falls short of COVID-19 vaccine deliveries - Reuters

Joy34
2022-02-09

COVID-19 vaccine maker, Novavax(NASDAQ:NVAX$Novavax(NVAX)$ )has shipped only a small portion of the 2B vaccine doses the company has pledged for its worldwide customers in 2022. Maryland-based biotech has also delayed its first-quarter supplies in Europe and countries such as the Philippines,Reuters reported on Tuesday, citing government officials tasked with the vaccine rollouts.

Novavax (NVAX) said it completed shipments of only 10M vaccine doses so far, and it is ramping up the deliveries as fast as possible to meet the contracted supplies for the quarter. Some shipments are stuck at a distribution warehouse waiting for regulatory clearances to reach healthcare clients, Novavax (NVAX) spokesperson Amy Speak said.

Late last year, the company’s protein-based vaccine was cleared by multiple regulatory agencies, including the European Commission and the World Health Organization (WHO).

Indonesia, one of the first countries to authorize the shot, had only received 200,000 vaccine doses, according to an unnamed Indonesian official. However, the Indian government said that the company’s partner, Serum Institute shipped nearly 10M shots in the last two months of 2021. Meanwhile, Novavax (NVAX) said that Serum was cleared to send 20M vaccine doses to the country.

The Philippines has yet to receive any of the 30M doses it ordered, an official said. The country is weighing whether to renegotiate the contract and reduce the order, according to Carlito Galvez, head of COVID-19 vaccine procurement for the Philippines.

In Europe, Novavax (NVAX) is facing delays in its vaccine rollout, which was expected to take place in January. As a result, at least two countries in the region are reportedly considering whether to push back the timeline to administer the vaccine.

Novavax (NVAX) is trading~8% lower in the pre-market in part due to rival COVID-19 vaccine maker, Pfizer’s(NYSE:PFE)lower-than-expected guidance for 2022.

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Comments

  • Naulium
    2022-02-10
    Naulium
    So when its delivered.. all will be well
    • chaicka
      By time manufacturing boost up, demands may no longer be there. More countries exiting pandemic into endemic as vaccinated rates >85% for majority of top 30 weathy countries.
  • MrWealth
    2022-02-10
    MrWealth
    smear campaign by pfizer
  • Kaineteo
    2022-02-09
    Kaineteo
    Let’s see 100 29.
  • SlowNana
    2022-02-09
    SlowNana
    [Sad]
  • Trax
    2022-02-09
    Trax
    Yes
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