Novavax Makes a $167 Million Purchase to Boost Its Coronavirus Vaccine Production Capacity
A small-cap biotech is joining its large-cap peers by heavily boosting its manufacturing capacity for an experimental coronavirus vaccine long before finding out whether that vaccine is effective. On Wednesday, Novavax (NASDAQ: NVAX) announced it's acquiring Praha Vaccines and its biologics factory in Bohumil, Czech Republic, for $167 million in cash.
The assets changing hands include a 150,000-square-foot vaccine-and-biologics manufacturing facility and support buildings. And Novavax will retain Praha's existing employees to keep the whole operation functioning.
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Source Fool.com
