Valneva: The United States is reconsidering the reduction of the Ixiaro agreement

The U.S. Department of Defense (DOT) used the first annual option of an agreement signed with Valneva in September 2020 to provide a new dose of the vaccine against Japanese encephalitis Ixiaro. Considering the impact of the Covit 19 epidemic on DOT operations, the terms of the option have been revised and now a minimum dose of 200,000 has been added to this first annual option, valued at approximately $ 28, $ 8 million.

The total minimum value of the contract is now $ 118 million, subject to training of the second annual option instead of the original contract of $ 135 million, the value of which remains unchanged.

In order to assist its customer during the epidemic, Volneva is committed to placing additional product stock from September 2023 to mitigate the potential impact of expired unused stock. The exchange will be registered as ex gratia and deferred income, up to a maximum of $ 9 million, starting in fiscal 2021.

We thank the DOT for renewing our confidence in Frank Grimott, Managing Director of Volneva. We believe it is important to continue to support large or small clients in order to help overcome the uncertainty caused by the impact of their operations on the Govt-19 epidemic.

Distribution activities related to this option will begin immediately.