Navigation Links
Novavax and Allergan Terminate Manufacturing Supply Agreement for Estrasorb

Action allows Novavax to focus on its vaccine business and reduce cash burn

ROCKVILLE, Md., Oct. 25 /PRNewswire-FirstCall/ -- Novavax, Inc. (Nasdaq: NVAX) announced today that it has agreed with Allergan, Inc. to terminate its manufacturing supply agreement for Estrasorb. Estrasorb was previously licensed by Novavax to Esprit Pharma, Inc. (recently acquired by Allergan, Inc.) in 2006 and is an approved estrogen product for relief of moderate to severe vasomotor symptoms (hot flashes) associated with menopause. Under the termination agreement, Novavax will complete the manufacture of remaining orders for the product and plans to close its Philadelphia manufacturing facility over the next few months. Allergan will continue to sell Estrasorb for the foreseeable future from available inventory.

The goal to exit manufacturing of Estrasorb had been a high priority of the Company's Board and management team since this activity was not strategic to the Company's core vaccine business and was a cash drain to Novavax. The Company had continued manufacturing Estrasorb since it was tied to the product's license agreement. Additionally, Allergan will return to Novavax the rights to develop ESP 210, an investigational drug in Phase II development for the treatment of hypoactive sexual desire disorder.

"We are focused on executing our vaccine business strategy and have previously stated that one of our highest corporate priorities is to divest the Company's various non-vaccine product candidates and technologies. Today's announcement terminating the Estrasorb supply agreement is in line with this corporate priority and will reallocate our cash to our core business, the development of new vaccines," said Dr. Rahul Singhvi, Novavax's President and CEO.

About Novavax

Novavax Inc. is committed to leading the global fight against infectious disease by creating novel, highly potent vaccines that are safer and more effective than current preventive options. Using the company's proprietary virus-like particle (VLP) and Novasome(R) adjuvant technologies, Novavax is developing vaccines to protect against H5N1 pandemic influenza, seasonal flu and other viral diseases. Novavax's particulate vaccines closely match disease-causing viruses while lacking the genetic material to cause disease, which provides potential for greater immune protection at lower doses than current vaccines. With an exclusive portable manufacturing system that allows for rapid mass-production of vaccines, Novavax is uniquely positioned to meet global public health needs. Additional information about Novavax is available at and in the company's various filings with the Securities and Exchange Commission.

Forward-Looking Statements

Statements herein relating to future financial or business performance, conditions or strategies and other financial and business matters, including expectations regarding product sales, operating expenses, and clinical developments are forward-looking statements within the meaning of the Private Securities Litigation Reform Act. Novavax cautions that these forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Factors that may cause actual results to differ materially from the results discussed in the forward-looking statements or historical experience include risks and uncertainties, including the failure by Novavax to secure and maintain relationships with collaborators; risks relating to the early stage of Novavax's product candidates under development; uncertainties relating to clinical trials; risks relating to the commercialization, if any, of Novavax's proposed product candidates; dependence on the efforts of third parties; dependence on intellectual property; competition for clinical resources and patient enrollment from drug candidates in development by other companies with greater resources and visibility, and risks that we may lack the financial resources and access to capital to fund our operations. Further information on the factors and risks that could affect Novavax's business, financial conditions and results of operations, is contained in Novavax's filings with the U.S. Securities and Exchange Commission, which are available at These forward-looking statements speak only as of the date of this press release, and Novavax assumes no duty to update forward-looking statements.

SOURCE Novavax, Inc.
Copyright©2007 PR Newswire.
All rights reserved

Related medicine news :

1. Novavax Says Bird Flu Vaccines Effective
2. Allergan Introduces ‘Dermal Filler’ for Smile Lins
3. ADHD Medications Terminated By Many Children And Adolescents
4. Indian Pharmaceutical Industries Stops Manufacturing And Sale Of Valdecoxib
5. South Africa May Start Manufacturing Bird Flu Vaccines
6. Medical LINAC Machine Manufacturing Unit At Khargar
7. Aurobindo Pharma Purchases US Manufacturing Facility
8. The Living Cell – Manufacturing, Protecting and Thrivin
9. FDAs Gesture for Firm Manufacturing Drug for Cushings Syndrome
10. Cipla holds talks with mining giant to supply AIDS drugs for South African workers
11. Supply of Radiopharmaceuticals Hampered by Attacks
Post Your Comments:
(Date:12/1/2015)... ... 01, 2015 , ... Nurotron Biotechnology Co., Ltd., maker of cochlear implant systems, ... , The order will be from the China Disabled Persons’ Federation, a central government ... effective solution for children and adults suffering from severe and profound hearing loss ...
(Date:11/30/2015)... ... 2015 , ... Third Molar SEO , one of ... launched a sleek, mobile-ready and user-centric redesigned website. , Vivek Srivastava, founder and ... the benefits that its SEO services provide to dentists and why Third Molar ...
(Date:11/30/2015)... (PRWEB) , ... December 01, 2015 , ... ... Christina Colon as a 2015-2016 inductee into its VIP Woman of ... pharmacy. NAPW is the nation’s leading networking organization exclusively for professional women, boasting ...
(Date:11/30/2015)... ... 01, 2015 , ... Live Very Well is excited to ... on . The multi-carrier insurance exchange platform offers individual vision and ... to compare, quote and match plans to meet their needs. , Beginning ...
(Date:11/30/2015)... ... November 30, 2015 , ... Stress, anxiety, illness, infection or even ... about possible tumors? , Heather Spader, MD, a new pediatric neurosurgeon at Joe DiMaggio ... signs might point to tumors. , “Bad headaches that don’t go away, ...
Breaking Medicine News(10 mins):
(Date:11/30/2015)... , Nov. 30, 2015  QT Vascular Ltd., ... and together with its subsidiaries, TriReme Medical LLC and ... company engaged in the design, assembly and distribution of ... vascular disease, is pleased to announce that a three-judge ... Court of Appeals for the Federal Circuit ("Federal Circuit") ...
(Date:11/30/2015)... Nov. 30, 2015  DURECT Corporation (Nasdaq: ... Matt Hogan , Chief Financial Officer, will ... on Tuesday, December 8 at 2:45 pm ... at the Westin Grand Central Hotel in ... for one-on-one meetings at this conference; interested ...
(Date:11/30/2015)... DUBLIN , Nov. 30, 2015 ... addition of the "Orphan Drugs Market 2015-2019" ... ) has announced the addition of the ... their offering. --> Research and Markets ... the "Orphan Drugs Market 2015-2019" report ...
Breaking Medicine Technology: