World

Novavax says U.S. paused federal funding to make more of its yet-to-be-approved vaccine.

Novavax says U.S. paused federal funding to make more of its yet-to-be-approved vaccine.
Written by admin
Novavax says U.S. paused federal funding to make more of its yet-to-be-approved vaccine.

Novavax says U.S. paused federal funding to make more of its yet-to-be-approved vaccine.

Novavax, the Maryland-based company that won a $ 1.75 billion federal contract to develop and produce a vaccine for the coronavirus, said Thursday that the federal government will not fund additional production of its vaccine until the company does. will not have resolved the concerns of federal regulators about its work.

The disclosure came in a quarterly filing with the Securities and Exchange Commission. The Trump administration has agreed to purchase 110 million doses of vaccine from Novavax as part of its crash vaccine development program.

Although the company reported in June that its vaccine was 90% effective against symptomatic cases of Covid-19 and 100% effective against serious illness, Novavax struggled for months to mass manufacture its product. His vaccine has not been cleared for distribution in the United States, and federal officials said it was not clear when or if it would be.

Four people familiar with Novavax’s operations said the company has so far been unable to demonstrate that its production process meets Food and Drug Administration standards. They spoke on condition of anonymity to discuss sensitive contractual issues.

An official from the Department of Health and Human Services, which oversees Novavax’s federal contract, said the government wanted the company to strengthen its testing and quality control operations. The official spoke on condition of anonymity to discuss confidential negotiations with the company.

Novavax said in a statement that the federal government continues to fund other ongoing work, including clinical trials. “We do not anticipate any impact on our funding agreement with the US government to support the overall development and production of 110 million doses of our vaccine candidate,” the company said.

READ Also  Other Diseases May Surge in Latin America as Prevention and Treatment Falter

Sheryl Gay Stolberg and Chris Hamby contributed reports.

#Novavax #paused #federal #funding #yettobeapproved #vaccine

About the author

admin