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Cadila Pharmaceuticals Launches Joint Venture With Novavax (NVAX) in India

July 9, 2009 8:33 AM EDT
Novavax, Inc. (Nasdaq: NVAX) and Cadila Pharmaceuticals announced the launch of their joint venture in India under the agreement signed between the two companies in March 2009. This joint venture, called CPL Biologicals Pvt. Ltd., will develop and manufacture vaccines, biological therapeutics and diagnostics in India using technology contributed from Novavax and Cadila Pharmaceuticals. In addition, CPL Biologicals will establish manufacturing facilities in India and develop, produce and sell products such as seasonal influenza vaccine and potentially other novel vaccines against dengue fever and chikungunya fever based on Novavax's virus-like-particle (VLP) vaccine technology. CPL Biologicals also expects to develop the pandemic H1N1 influenza vaccine candidate in India that Novavax is developing in the United States.