04:11 AM EST, 12/04/2024 (MT Newswires) -- Novavax ( NVAX ) said Wednesday it has agreed to sell its manufacturing facility in Bohumil, Czech Republic, to Novo Nordisk ( NVO ) for $200 million.

The asset sale includes a 150,000-square-foot recombinant protein manufacturing facility with support buildings.

The consideration for the deal consists of a $190 million cash payment, and a $10 million additional payment in 2025.

The company also expects the deal to reduce its annual operating costs by about $80 million.

The deal is anticipated to close by Dec. 30.