Top U.S. trade negotiator discussed vaccine ramp-up with Novavax exec (updated)

SK Chemicals

28/04/2021 03:13

(Adds Novavax CEO meeting with S.Korean president; paragraphs
10-11)
    WASHINGTON, April 27 (Reuters) - U.S. Trade Representative
Katherine Tai discussed increasing COVID-19 vaccine production
in a virtual meeting on Tuesday with an executive with drugmaker
Novavax  NVAX.O , Tai's office said in a statement.
    Tai and Novavax Executive Vice President John Trizzino also
discussed a proposal before the World Trade Organization to
waive certain intellectual property rights in response to the
coronavirus pandemic, the USTR statement said.
    "Ambassador Tai sought Mr. Trizzino's views on steps Novavax
is taking to quickly increase equitable production and
distribution of vaccines in the United States and around the
world," the statement said.
    Novavax's COVID-19 vaccine is not currently authorized for
use in the United States.
    WTO members are due to discuss a proposal by India and South
Africa to waive certain provisions of the WTO's Agreement on
Trade-Related Aspects of Intellectual Property Rights on April
30, but the United States and a few other big countries have
blocked such a move.
    Democratic lawmakers, civil society groups, and 60 former
heads of state and 100 Nobel Prize winners have urged President
Joe Biden to back the waiver.
    Shares of Novavax surged 16% in extended trading on Tuesday
after Biden said the United States was planning to share
COVID-19 vaccines with countries in need of aid.  urn:newsml:reuters.com:*:nL4N2MK4FD
    The company is expected to report data from its ongoing
large, late-stage study in the United States and Mexico during
the second quarter of this year.  urn:newsml:reuters.com:*:nL4N2LY21I
    Tai held virtual meetings on Monday with vaccine makers
Pfizer  PFE.N  and AstraZeneca  AZN.L .  urn:newsml:reuters.com:*:nL1N2MK01Z
    Novavax Chief Executive Stanley Erck met with South Korean
President Moon Jae-in on Tuesday and said he was in talks with
SK bioscience, the vaccine arm of SK Chemicals  285130.KS , to
extend production and tech transfer agreements until 2022.
    SK bioscience plans to start producing the Novavax COVID-19
vaccines as soon as the approval comes and manufacture 40
million doses to supply South Korea.
    

 (Reporting by Eric Beech; Additional reporting by Sangmi Cha in
Seoul; Editing by Mohammad Zargham and Sam Holmes)
 ((eric.beech@thomsonreuters.com; 202-898-8322; Reuters
Messaging: eric.beech.reuters.com@reuters.net))