Novavax settles manufacturing dispute with Fujifilm for $42M, releases claims

NOVAVAX INC

Paid $42M on March 25, 2024 to Fujifilm, resolving $68.6M disputed installments under prior cancellation agreement.
Mutual release of all claims; Fujifilm agreed to dismiss pending arbitration from October 2023.
Original liability under Prior SAR was up to $185 million; settlement removes uncertainty and potential larger payout.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

NOVAVAX INC entered into Confidential Settlement Agreement and Release with FUJIFILM Diosynth Biotechnologies UK Limited, FUJIFILM Diosynth Biotechnologies Texas, LLC, and FUJIFILM Diosynth Biotechnologies USA, Inc. (effective 2024-03-21).

Action: entry
Agreement: settlement
Counterparty: FUJIFILM Diosynth Biotechnologies UK Limited, FUJIFILM Diosynth Biotechnologies Texas, LLC, and FUJIFILM Diosynth Biotechnologies USA, Inc.
Effective: 2024-03-21

Exact text from the filing

On March 21, 2024, Novavax, Inc. (the “Company”), FUJIFILM Diosynth Biotechnologies UK Limited (“FDBK”), FUJIFILM Diosynth Biotechnologies Texas, LLC (“FDBT”) and FUJIFILM Diosynth Biotechnologies USA, Inc. (“FDBU” and together with FDBK and FDBT, “Fujifilm”) entered into a Confidential Settlement Agreement and Release (the “Settlement Agreement”) to resolve disputes

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Source: SEC EDGAR

accession 0001104659-24-039006

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