The Cyrus Poonawala Group, owner of world’s largest vaccine manufacturer Serum Institute of India, has sold its Czech Republic-based Praha Vaccines to Novavax for $167 million, helping the US biotechnology firm significantly expand its vaccine capacity.
Praha Vaccines is expected to provide an annual capacity of over one billion doses of antigen for Novavax’ Covid-19 vaccine candidate NVX‑CoV2373 starting 2021, the US firm said on Wednesday.
The deal includes Praha’s 150,000-square feet state-of-the-art vaccine and biologics manufacturing facility and other support buildings, along with its employees and all related infrastructure.
“We will continue efforts to expand antigen capacity in the US and Asia, and increase production of Matrix-M to match antigen capacity at multiple sites globally,” said Stanley C Erck, president and CEO of Novavax.
The company will also work collaboratively with the Serum Institute of India to increase production levels at the Bohumil facility by the end of 2020, it said.
Adar Poonawala, CEO of Serum Institute of India, which is also in talks with companies like AstraZeneca to bring their vaccine candidates in India, clarified that the deal does not have any commitment from Novavax to bring its candidate to India if it succeeds. “We have not discussed with Novavax (if their candidate will be sold in India through SII) so I can’t comment on this. Let’s see, let someone succeed first,” he told ET.
“I want to manufacture in India for India, and I felt this deal would be a good fit for Novavax for their vaccine candidate for United States, and that has what happened here. They will use it as a global facility,” Poonawala said.
Indian vaccine companies are in the spotlight as race for Covid-19 cure heats up with multinational companies looking at partners to scale up their vaccine candidates.
Last week, Renu Swarup, biotechnology department secretary, had told ET that India is laying the groundwork for regulatory clearances and guidance documents for domestic manufacturers who wish to bring global Covid-19 vaccines candidates to India.
She said her department was in discussions with global health agencies like the World Health Organization to start a Solidarity trial for vaccines, on the lines of the drug trial WHO started for potential Covid-19 treatments.
Source: Economic Times