Novavax has signed an agreement to sell its manufacturing facility in Bohumil, Czech Republic, to Novo Nordisk for $200 million.
The deal includes a 150,000-square-foot recombinant protein manufacturing site, support buildings, infrastructure, and the existing workforce. The transaction is expected to close by December 30, 2024.
The sale will provide Novavax with $190 million in cash this year and an additional $10 million in 2025. The company also expects to save approximately $80 million annually in operating costs.
These financial benefits will bolster Novavax’s ability to focus on its vaccine pipeline and other core technologies.
The decision to offload the facility marks a shift in Novavax's strategy, potentially signaling an increased reliance on partnerships or outsourcing for manufacturing. Novo Nordisk, which will take over full responsibility for the facility, may use the site to support its own biopharmaceutical production capabilities.