Novavax (NVAX) announced a milestone payment from Takeda (TAK) has been triggered by regulatory approval for Novavax’s COVID-19 vaccine Nuvaxovid Intramuscular Injection 1 mL formulated to target SARS-CoV-2 Omicron LP.8.1 as an initial immunization (first and second vaccination) for those aged six years or older and a booster immunization (after the third vaccination) for those aged 12 years or older. Novavax is eligible to receive royalties on net sales of Nuvaxovid from Takeda this vaccination season. A portion of the milestone payment can be credited towards future royalty payments. These payments are part of the updated and significantly improved terms of Novavax’s collaboration and licensing agreement with Takeda, announced earlier this year.
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