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Sanofi Inks $1.2 Billion Vaccine Licensing Deal With Novavax [Yahoo! Finance]
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Most Read from Bloomberg Biden Set to Impose Tariffs on China EVs, Strategic Sectors Apple Apologizes for iPad Pro Ad, Scraps Plan to Air It on TV ‘Seriously Underwater' Home Mortgages Tick Up Across the US Marjorie Taylor Greene Finally Got What She Deserved: Defeat Novavax will receive $500 million in upfront payments as well as $700 million in development, regulatory and launch milestones, according to a statement Friday. Sanofi is also taking a minority equity stake of about 5% in Novavax. Shares of Novavax rose as much as 49% in trading before the market opened in New York. The company's stock was down about 50% in the past year through Thursday's close. The pact links two big players in the vaccine world that both missed out on the rush to develop and commercialize Covid shots quickly during the pandemic. Amid various setbacks, Sanofi and Novavax ceded tens of billions of dollars in sales to nimbler messenger-RNA developers including the Pfizer-BioNTech alliance a
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