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On February 16, 2024, Novavax, Inc. entered into a Termination and Settlement Agreement with Gavi Alliance, effectively terminating their previous Advance Purchase Agreement from May 5, 2021, concerning the supply of Novavax's COVID-19 vaccine. This settlement resolves the arbitration initiated by Gavi against Novavax and releases both parties from all claims related to the agreement. Novavax has agreed to make an initial settlement payment of $75 million, which was paid on February 20, 2024, and will also make deferred payments totaling $400 million through December 31, 2028. These payments can be offset by annual vaccine credits that Gavi may use for qualifying purchases of Novavax's vaccines for low-income and lower-middle-income countries. Additionally, Novavax has granted Gavi a security interest in accounts receivable from the Serum Institute of India under a License and Supply Agreement related to the production of a malaria vaccine, which will continue for the term of the Settlement Agreement. The details of the Settlement Agreement will be included in Novavax's Annual Report on Form 10-K for the year ended December 31, 2023.
On February 16, 2024, Novavax, Inc. entered into a Termination and Settlement Agreement with Gavi Alliance, effectively terminating their previous Advance Purchase Agreement from May 5, 2021, concerning the supply of Novavax's COVID-19 vaccine. This settlement resolves the arbitration initiated by Gavi against Novavax and releases both parties from all claims related to the agreement. Novavax has agreed to make an initial settlement payment of $75 million, which was paid on February 20, 2024, and will also make deferred payments totaling $400 million through December 31, 2028. These payments can be offset by annual vaccine credits that Gavi may use for qualifying purchases of Novavax's vaccines for low-income and lower-middle-income countries. Additionally, Novavax has granted Gavi a security interest in accounts receivable from the Serum Institute of India under a License and Supply Agreement related to the production of a malaria vaccine, which will continue for the term of the Settlement Agreement. The details of the Settlement Agreement will be included in Novavax's Annual Report on Form 10-K for the year ended December 31, 2023.
2024年2月16日，Novavax, Inc.与Gavi Alliance签订了终止和和解协议，实际上终止了他们先前从2021年5月5日起的关于Novavax COVID-19 疫苗供应的预购协议。该和解协议解决了Gavi对Novavax发起的仲裁，并免除了双方与协议有关的所有索赔。Novavax已同意支付7500万美元的初始和解金，这笔款项已于2024年2月20日支付，还将在2028年12月31日之前支付总额为4亿美元的延期付款。这些款项可以通过年度疫苗抵免抵消，Gavi可以使用这些抵免额度为低收入和中低收入国家购买符合条件的Novavax疫苗。此外，根据与疟疾疫苗生产相关的许可和供应协议，Novavax已向Gavi授予印度血清研究所应收账款的担保权益，该协议将持续到和解协议的期限。和解协议的细节将包含在Novavax截至2023年12月31日止年度的10-K表年度报告中。
2024年2月16日，Novavax, Inc.与Gavi Alliance签订了终止和和解协议，实际上终止了他们先前从2021年5月5日起的关于Novavax COVID-19 疫苗供应的预购协议。该和解协议解决了Gavi对Novavax发起的仲裁，并免除了双方与协议有关的所有索赔。Novavax已同意支付7500万美元的初始和解金，这笔款项已于2024年2月20日支付，还将在2028年12月31日之前支付总额为4亿美元的延期付款。这些款项可以通过年度疫苗抵免抵消，Gavi可以使用这些抵免额度为低收入和中低收入国家购买符合条件的Novavax疫苗。此外，根据与疟疾疫苗生产相关的许可和供应协议，Novavax已向Gavi授予印度血清研究所应收账款的担保权益，该协议将持续到和解协议的期限。和解协议的细节将包含在Novavax截至2023年12月31日止年度的10-K表年度报告中。
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