Reuters reveals Novavax underdelivers on COVID vaccine promises; market reacts – Reuters News Agency


Health

Reuters revealed that the drugmaker has only delivered a small fraction of the 2 billion COVID-19 vaccines it has promised to governments worldwide and has delayed shipments expected in the first quarter to the European Union, Indonesia and the Philippines. The story, with reporting from the United States, Europe and Asia, also revealed how far behind Novavax is in fulfilling its promises to governments and to COVAX, the global vaccine distribution program that plays a key role in supplying the vaccines to low-income countries. Officials in the Philippines said that they are now seeking to trim their Novavax contract, as a longer-than-expected wait for the company’s vaccine led the country to stockpile supply from other drugmakers. Several industry analysts said they are reviewing their 2022 vaccine sales forecasts of around $5 billion for Novavax in light of the news.

Market Impact

Shares in Novavax fell 15% following the report. 

Article Tags

Topics of Interest: Health

Type: Reuters Best

Sectors: Pharmaceuticals & Healthcare

Regions: Global

Countries: IndonesiaPhilippines

Win Types: Exclusivity

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Major Global Story



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