American biotechnology firm Novavax Inc. has only delivered 0.5% of its global COVID-19 vaccine delivery target for the year so far with delayed shipments in low-income countries, Reuters reported.

  • Novavax has recorded 10 million vaccine shots so far this year, equivalent to 0.5% of its 2-billion target for 2022. It said it is working to hasten deliveries of contracted supplies in the first quarter.
  • Spokesperson Amy Speak said a number of deliveries have been delayed due to regulatory processes, and supplies are currently stored in a distribution warehouse awaiting shipment to healthcare providers across the globe.
  • Deliveries to the European Union and low-income countries such as the Philippines have been delayed due to the late approval of the World Health Organization, leaving at least one country to reconsider its order.
  • The firm expects deliveries to hit around 80 million doses in the first quarter of 2022 to the COVAX facility, equivalent to less than 10%. A spokesperson for the COVAX operator said Novavax shipments are expected soon.

Novavax is seen to generate $5 billion from its COVID-19 vaccine sales this year. NVAX is down 9.07% premarket.