The French drug giant Sanofi is taking a minority stake in Novavax and entering into a licensing agreement worth as much as $1.2 billion that includes selling a combination COVID-flu shot.
Why it matters: It's a major turnaround for Maryland-based Novavax, one of America's first big bets under Operation Warp Speed that lost out in the COVID-19 vaccine race and warned last year about its ability to stay in business.
