Advertise With UsAdvertise on our extensive network of industry websites and newsletters.
Get the PBR newsletterSign up to our free email to get all the latest PBR
news.Biopharmaceutical company Novavax has agreed with Allergan to terminate its manufacturing supply agreement for Estrasorb. Estrasorb is an approved estrogen product for relief of moderate to severe vasomotor symptoms such as hot flashes associated with menopause.
Subscribe to our email newsletter
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.
The goal to exit manufacturing of Estrasorb had been a high priority of the company’s board and management team since this activity was not strategic to the company’s core vaccine business and was a cash drain to Novavax. The company had continued manufacturing Estrasorb since it was tied to the product’s license agreement. Additionally, Allergan will return to Novavax the rights to develop ESP 210, an investigational drug in Phase II development for the treatment of hypoactive sexual desire disorder.
Dr Rahul Singhvi, Novavax’s president and CEO, 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. This 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.”