Novavax settles UK COVID vaccine supply dispute, agrees to pay $123.8M refund

NOVAVAX INC

Settlement with UK Health Security Agency resolves all claims related to the Amended and Restated Supply Agreement.
Company to pay $123.8M in equal quarterly installments of $10.3M over three years, ending June 30, 2027.
First installment of $10.3M due November 30, 2024 under a Letter of Amendment.
Total includes $11.3M imputed interest; company may avoid interest by accelerating payments.
Original supply agreement terminated effective November 1, 2024.

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