Company Gets $1.6 Billion From U.S. Government for Coronavirus Vaccine

TUESDAY, July 7, 2020 (HealthDay News) -- Vaccine maker Novavax will receive $1.6 billion from the U.S. government to provide 100 million doses of a coronavirus vaccine by early 2021, the Maryland-based company said Monday.

This is the largest deal announced by the Trump administration to date as part of its attempts to provide coronavirus vaccines and treatments to Americans as soon as possible, The New York Times reported.

The $1.6 billion is coming from a "collaboration" between the Health and Human Services Department and the Defense Department, according to a Novavax spokeswoman.

In May, the Trump administration said it would give up to $1.2 billion to British drugmaker AstraZeneca, which has said it could have a vaccine available by October. Federal funding has also been given to four other companies -- Moderna Therapeutics, Johnson & Johnson, Merck and Sanofi -- for their experimental coronavirus vaccines, The Times reported.

Novavax has never brought a product to market, the Times reported.

MedicalNews
Copyright © 2019 HealthDay. All rights reserved.

SLIDESHOW

Whooping Cough (Pertussis) Symptoms, Vaccine Facts See Slideshow

Health Solutions From Our Sponsors

CONTINUE SCROLLING FOR RELATED SLIDESHOW