Novavax Scales Back European Operations, Cuts Revenue Forecast Again

Novavax has again lowered its revenue projections for the year and announced plans to scale back its European operations. This decision comes as the company faces ongoing challenges in competing with established COVID-19 vaccine manufacturers. Despite some positive developments, such as a licensing agreement with Sanofi and anticipation of increased U.S. sales, Novavax continues to struggle, as evidenced by missed earnings targets and a significant drop in stock value since 2021. The company`s revised strategy prioritizes the U.S. market while reducing its European presence.