(Bloomberg) -- Novavax Inc.'s top executive said the company's Covid-19 vaccine could be a good booster option for people who have received other shots, as the drugmaker looks to ramp up output and gain approvals around the world.
“Our vaccine is ideal for boosting,” Chief Executive Officer Stanley Erck said in an interview on Monday with Bloomberg Television.
Erck said the Gaithersburg, Maryland-based company has solved manufacturing problems that delayed its vaccine this year and expects to be able to produce 150 million doses a month with partner Serum Institute of India by December.
Novavax was among the companies that received early backing from Operation Warp Speed, the U.S. government effort to speed development of Covid vaccines. However, it has trailed rivals in the race to its home market, and has been increasingly focused on gaining clearances abroad. In recent days, it has filed for authorizations in the U.K., Australia and Canada.
Erck said that he expects that breakthrough Covid infections will increase without booster shots and that its product could be a good supplementary option for people who have received other vaccines. A recent National Institutes of Health study showed a potential benefit from so-called mixing and matching of vaccines and U.S. regulators have signed off on the strategy for American who received one of the three currently authorized vaccines.
Novavax said it expects to complete submitting a regulatory package to U.S. regulators by year-end.
Shares of Novavax were up 16% at 12:18 p.m. in New York, and have surged by 27% in the past week.
©2021 Bloomberg L.P.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
