Sanofi reaches agreement with Novavax regarding COVID-19 vaccine – 69News WFMZ-TV

Sanofi, a pharmaceutical company with Monroe County operations, is partnering with Novavax to help co-commercializeNovavax'sCOVID-19 vaccine.

Novavax announced the co-exclusive licensing agreement with Sanofi as it reported its 2024 first quarter results Friday.

The agreement involves co-commercializing the COVID-19 vaccine, developing novel COVID-19-Influenza combination vaccines, and developing multiple new vaccines utilizing Novavax's Matrix-MTM adjuvant, Novavax says.

The agreementrepresents a potential multi-billion dollar revenue opportunity for Novavax, according to the company, including:

$500 million upfront payment

Approximately $70 million equity investment in Novavax

Up to $700 million in COVID-19 and combination product near-term milestones, plus ongoing tiered royalties on product sales

Up to $200 million in milestones plus royalties for each new vaccine developed utilizing Novavax's Matrix-MTM adjuvant

Sanofi will take a minority (<5%) equity investment in Novavax.

In late April, Sanofi reported a 2.4% gain in first-quarter revenue, as sales of vaccines and the anti-inflammatory drug Dupixent increased.

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Sanofi reaches agreement with Novavax regarding COVID-19 vaccine - 69News WFMZ-TV