COVID vaccines: Novavax says India, Europe, and South Korea to supply global doses for 2022

Novavax (NVAX) is waiting for the June 7 vaccine advisory committee meeting to introduce its COVID-19 vaccine to the U.S.

Yahoo Finance's John Trizzino said the company is hopeful about the meeting.

Novavax ran into manufacturing quality issues in early 2021, delaying its Phase 3 trial in the U.S. until mid-2022.

To remedy its production crisis, it went to India's Serum Institute (SII). Early 2021 was rough for this manufacturer. SII was meant to produce AstraZeneca (AZN)/Oxford's COVID-19 vaccine for the global COVAX facility cooperation. A fatal Delta wave prompted India to suspend vaccination exports and reserve supplies for domestic use.

Novavax CEO Stanley Erck visited SII in Pune, Maharashtra, last year to negotiate the vaccine sale.

Trizzino said the FDA has finished inspecting the Serum Institute and U.S. doses will come from India.

SII has considerably expanded Trizzino's capability in recent years.

From this facility, Novavax has supplied doses to Europe, Australia, and Canada. Trizzino said Serum, SK bioscience, and the Czech location will manufacture in 2022.

Novavax is targeting the vaccine apprehensive, especially those leery of the newer mRNA technology, such as BioNTech (BNTX), Pfizer (PFE), and Moderna (MRNA), or of the uncommon side effects linked with adenovirus vaccinations, like AstraZeneca and Johnson & Johnson (JNJ).

Trizzino said '22 will be a fundamental year for the company.

"We anticipate we'll have consistent revenue and be a major part of COVID's annual revaccination," he added.