(Reuters) – Novavax Inc expects to produce up to 150 million COVID-19 vaccine doses monthly by May or June, the chief executive told Reuters Friday, a day after reporting interim data showing the shot was 89% effective in a UK. trial.
Novavax expects to complete the clinical trial for its experimental COVID-19 vaccine in the coming weeks, but is already working on production to quickly reach full manufacturing capacity, said Chief Executive Officer Stanley Erck.
“We should be at full capacity by May or June, maybe 150 million doses per month worldwide,” he said.
Shares of Novavax are up 65% on Friday to $ 221.27
Erck said he expects it will take several weeks for Novavax to submit the study data to regulators in the UK, Europe and elsewhere, which means a full review for authorization of its vaccine could take “a few months.”
Novavax released the first results of a UK trial on Thursday showing that the vaccine is 89.3% effective in preventing COVID-19 and was nearly as effective in protecting against the more highly contagious variant of the coronavirus used for it. was first discovered in the UK. It also protected against the powerful South African variety, albeit at a slower rate.
Erck said 16,000 volunteers have already participated in the US trial and it is likely to reach the target of 30,000 participants by early to mid-February. The company would then observe them for about six weeks before reviewing the results, he added.
Novavax will initially focus its data review of the US study on the primary goal of preventing moderate to severe COVID-19, then analyze the effectiveness of the shot against several virus variants that have emerged.
The United States found the first cases of the coronavirus variant first discovered in South Africa in South Carolina this week.
Novavax has supply contracts with the United States, Canada and Australia and is also in talks with the European Union about a supply agreement, the CEO said.
He added that his Maryland-based company has an agreement with the GAVI vaccine alliance to supply poorer countries with his shot produced by the Serum Institute in India – the world’s largest vaccine producer. The goal is to produce 2 billion doses per year.
Novavax will begin scaling vaccine production in February or March and expects its own production to ramp up by the second quarter, along with production from the Serum Institute and partners in South Korea and Japan, Erck said.
The roll-out of vaccines in the EU and other areas has been hampered by supply problems as manufacturers, including AstraZeneca Plc and Pfizer Inc, have said they would cut shipments, at least temporarily.
Additional reporting by Carl O’Donnell in New York; Edited by Caroline Humer and Bill Berkrot