Summary by Moomoo AI
Novavax's subsidiary, Novavax CZ, has entered into an asset purchase agreement with Novo Nordisk Production Czech s.r.o. on December 3, 2024, to sell its biologics manufacturing campus in Bohumil, Jevany, Czech Republic. The total purchase price is $200 million, with $10 million already paid in September 2024 and another $10 million to be held in escrow for 12 months post-closing.The transaction includes the transfer of properties, moveable assets, equipment, related contracts, and certain employees. Novo Nordisk will assume associated liabilities and has agreed to reimburse Novavax CZ for operational costs up to $3.5 million per month until closing. The deal's completion is contingent upon approval from the Czech Republic's State Institute for Drug Control, with a four-month deadline for satisfying conditions.
