Denmark To Purchase 280,000 Novavax Inc. (NASDAQ: NVAX) COVID-19 Vaccine Doses

Denmark announced on Wednesday that it would purchase 280,000 doses of the Novavax Inc. (NASDAQ: NVAX) COVID-19 vaccine for around $5.84 million, estimated to be around $20.9 per dose. The purchase is part of the EU agreement with the US pharmaceutical company.

Denmark to buy Novavax vaccine 

Earlier this month, the European Commission approved a supply contract with the company to purchase around 200 million doses of the company’s COVID-19 vaccine. Novavax’s COVID-19 vaccine is yet to receive approval from the EU. 

The Danish health ministry had initially given the vaccine price in a statement but retracted it later and gave a new statement without indicating the price. The ministry stated that the prices were confidential. It is unclear whether the price the Danish health ministry alluded is the total cost or whether it excluded the advance payment by the EU.

Novavax makes executive appointments. 

Novavax has appointed Nasir Egal as SVP Quality Assurance and Jim Kelly as the executive VP, Treasurer, and CFO. Egal will report to EVP and COO Rick Crowley, while Kelly will report to the company’s CEO, Stanley Erck.  Kelly has over 25 years of experience in the clinical stage and commercial companies, and he joins from Supernus Pharmaceuticals, where he was serving as CFO. 

Erck said, “We welcome Jim’s broad finance and strategic leadership as Novavax quickly matures into a global commercial company. His experience will be of particular importance as we prepare to effectively deliver urgently needed vaccine to all corners of the world in the fight against COVID-19 and work to advance our pipeline of vaccine candidates targeting serious infectious diseases.”

Crowley commented, “Nasir’s deep quality experience and perspective gained by leading complex global programs will be invaluable as we continue to advance regulatory and commercial activities for our recombinant nanoparticle COVID-19 vaccine. Nasir brings invaluable quality expertise at precisely the right time for Novavax.”