Poor Demand for Its Covid Vaccine Prompts Novavax to Cut Sales Forecast

Novavax Inc. slashed its full-year revenue outlook in half on Monday, citing a lack of demand for its Covid-19 vaccine from an international initiative to vaccinate lower-income countries and delays in winning expanded authorizations in the U.S.

Novavax said Monday it now expects 2022 sales between $2 billion and $2.3 billion, down from its previous forecast of $4 billion to $5 billion.