Summary by Moomoo AI
Novavax has completed the sale of its biologics manufacturing campus in Bohumil, Jevany, Czech Republic to Novo Nordisk Production Czech s.r.o. for $200 million. The transaction, executed through Novavax's subsidiary Novavax CZ a.s., includes the transfer of property, equipment, related contracts, and employees.The purchase consideration comprises an initial payment of $10 million made in September 2024, a closing payment of $180 million, and $10 million held in escrow for 12 months. Additionally, Novavax received approximately $2.6 million as reimbursement for operational costs incurred between December 3, 2024, and the sale completion date.The deal, originally announced on December 3, 2024, was finalized on December 30, 2024. As part of the agreement, Novo Nordisk assumes all forward-looking liabilities related to the transferred assets, contracts, and employees.
