ROCKVILLE, Md., July 9 /PRNewswire-FirstCall/ -- Novavax, Inc. (Nasdaq: NVAX) and Cadila Pharmaceuticals today announced the launch of their joint venture in India under the agreement signed between the two companies in March 2009. This joint venture, called CPL Biologicals Pvt. Ltd., will develop and manufacture vaccines, biological therapeutics and diagnostics in India using technology contributed from Novavax and Cadila Pharmaceuticals. In addition, CPL Biologicals will establish manufacturing facilities in India and develop, produce and sell products such as seasonal influenza vaccine and potentially other novel vaccines against dengue fever and chikungunya fever based on Novavax's virus-like-particle (VLP) vaccine technology. CPL Biologicals also expects to develop the pandemic H1N1 influenza vaccine candidate in India that Novavax is developing in the United States.
Mr. I. A. Modi, Chairman of CPL Biologicals, noted: "This joint venture represents an important strategic alliance for vaccine development and manufacturing in India and uses unique and cutting-edge vaccine technology. Our vision is to be a leading provider of high quality, affordable vaccines, biological therapeutics and diagnostics through world-class research and innovative manufacturing to address current and future global health challenges."
Rahul Singhvi, President and Chief Executive Officer of Novavax, stated: "We are excited to see the agreement with Cadila announced in March come to fruition with the official launch of CPL Biologicals today. We look forward to a long and successful effort to bring important new vaccines and other pharmaceutical products to the people of India."
About Cadila Pharmaceuticals Ltd.
Cadila Pharmaceuticals Ltd. is one of the largest privately held pharmaceutical companies in India, h
|SOURCE Novavax, Inc.|
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