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news.Novavax has agreed with Allergan to terminate its manufacturing supply agreement for Estrasorb, an approved estrogen product for relief of moderate to severe vasomotor symptoms associated with menopause.
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Under the termination agreement, Novavax will complete the manufacture of remaining orders for the product and plans to close its Philadelphia manufacturing facility over the next few months. Allergan will continue to sell Estrasorb for the foreseeable future from available inventory.
Allergan will also return to Novavax the rights to develop ESP 210, an investigational drug in Phase II development for the treatment of hypoactive sexual desire disorder.
Rahul Singhvi, president and CEO of Novavax, said: “We are focused on executing our vaccine business strategy and have previously stated that one of our highest corporate priorities is to divest the company’s various non-vaccine product candidates and technologies. Today’s announcement terminating the Estrasorb supply agreement is in line with this corporate priority and will reallocate our cash to our core business, the development of new vaccines.”