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Novavax, Inc. (NVAX) Announces Agreement To Reduce ESTRASORB Manufacturing Costs



10/19/2005 5:10:23 PM

MALVERN, PA, May 9 /PRNewswire-FirstCall/ -- Novavax, Inc., a specialty biopharmaceutical company, today announced that it has restructured its relationship with Cardinal Health, Inc. . Under the new agreement Novavax will manufacture ESTRASORB(R), a topical emulsion for estrogen therapy, and Cardinal Health will be responsible for the fill- finish operation that prepares ESTRASORB in patient packaging. The new facility and packaging agreement will reduce Novavax's manufacturing costs for ESTRASORB. The terms of the agreement restrict the release of additional details.

"This transaction strengthens our existing relationship with Cardinal Health and delivers value to both parties," said Rahul Singhvi, Sc.D., Senior Vice-President and Chief Operating Officer of Novavax. "Novavax will benefit immediately from lower manufacturing costs for ESTRASORB, thus improving our profit margin. The new agreement positions ESTRASORB as a much more valuable asset for Novavax, as well as, for a future ESTRASORB partner."

About Novavax, Inc.

Novavax, Inc. is a specialty biopharmaceutical company engaged in the research, development and commercialization of proprietary products focused on drug delivery and vaccine development. Novavax sells, markets, and distributes a line of women's health prescription pharmaceuticals through its specialty sales force calling on obstetricians and gynecologists throughout the United States including ESTRASORB(R), its topical emulsion for estrogen therapy. Novavax's micellar nanoparticle technology involves the use of patented oil and water nanoemulsions that it believes can be used as vehicles for the topical delivery of a wide variety of drugs and other therapeutic products, including hormones. In addition, Novavax conducts research and development on preventative and therapeutic vaccines and proteins for a variety of infectious diseases, including HIV, influenza, SARS and E-selectin tolerogen for the prevention of stroke.

Statements made in this press release that state Novavax's or management's intentions, hopes, beliefs, expectations, or predictions of the future are forward-looking statements. Forward-looking statements include but are not limited to statements regarding product sales, future product development and related clinical trials and statements regarding future research and development. Novavax's actual results could differ materially from those projected in such forward-looking statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include, among other things, the following: general economic and business conditions; competition; unexpected changes in technologies and technological advances; ability to commercialize and manufacture products; results of clinical studies; research and development activities; changes in, or failure to comply with, governmental regulations; and the ability to obtain adequate financing in the future. Additional information is contained in Novavax's annual report on Form 10K for the year ended December 31, 2004 incorporated herein by reference. Statements made herein should be read in conjunction with Novavax's Form 10K. Copies of the filing may be obtained by contacting Novavax at 508 Lapp Road, Malvern, PA 19355 Tel 484-913-1200 or the SEC at http://www.sec.gov/.

Novavax Inc.

CONTACT: INVESTOR RELATIONS: Nelson M. Sims, President and CEO, RitaFreedman, Manager Investor Relations, Novavax, Inc., Tel: (484) 913-1200,Email: rfreedman@novavax.com


Read at BioSpace.com


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