Novavax claim on COVID vaccine deal breach rejected by Gavi
In response to Gavi's statement, Novavax reiterated that it has been ready to meet its commitment to manufacture and deliver doses for the COVAX facility.;
New Delhi: Global vaccine alliance Gavi on Tuesday rejected Novavax's claim that the group had breached an advance purchase agreement to procure 350 million doses of the company's COVID-19 vaccine.
Novavax said on Monday that it had issued a notice to Gavi for terminating the agreement with immediate effect, citing the alliance's failure to procure the doses it had agreed to buy in May last year for the COVAX facility, a global vaccine distribution program.
The company's shares were down 12% in afternoon trade.
"It is clear that Novavax will not be able to meet its commitment to manufacture" the doses under the agreement for COVAX before the end of 2022, a Gavi spokesperson told Reuters.
More than 18 months after signing the agreement, Novavax has not been able to make a single dose available to COVAX from the contractually stipulated sites to-date, Gavi said.
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