US Provides Largest Ever Funding to Novavax: "100 Million Vaccine Doses to be Produced by January"

Novavax Plans Phase 3 Clinical Trial in October This Year
US Provides Massive Support to Vaccine Manufacturers and Others

[Asia Economy Reporter Naju-seok] The U.S. government has launched the largest-ever financial support for the American pharmaceutical company Novavax in relation to the development of a novel coronavirus (COVID-19) vaccine.

According to Bloomberg and other sources on the 7th (local time), the U.S. government decided to provide $1.6 billion (1.92 trillion KRW) to Novavax for vaccine trials, commercialization, and domestic manufacturing. This support plan aims to produce 100 million doses of the vaccine by January next year.

This support program, called "Operation Warp Speed," is the largest investment in U.S. history, with the White House intending to accelerate the development of COVID-19 vaccines and treatments through it.

Novavax stated, "This Operation Warp Speed program is to produce 100 million doses," adding, "We will start deliveries in the fourth quarter of this year and complete all vaccine deliveries by January or February next year."

Novavax plans to enter Phase 3 clinical trials in early October this year.

The U.S. government is making extensive investments related to vaccine development. It has provided $456 million to Moderna and $486 million to Johnson & Johnson. It also plans to support AstraZeneca, which is jointly developing a COVID-19 vaccine with Oxford University, with up to $1.2 billion.