Novavax Soars on $1.2 Billion Sanofi Vaccine Licensing Deal

Novavax's stock soared after announcing a $1.2 billion licensing deal with Sanofi for a combined Covid-19 and flu vaccine. The agreement includes $500 million upfront and potential milestones of $700 million, plus royalties on vaccine sales. Sanofi also acquired a 5% stake in Novavax. This partnership marks a significant shift for both companies, which had previously missed early opportunities in the Covid-19 vaccine market.