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Covid-19 vaccine maker Novavax on Wednesday said it expects revenue this year to be flat or lower as it works to improve its commercial performance and pick up market share from much larger rivals, Pfizer and Moderna. The company posted a larger-than-expected fourth-quarter loss as revenue lagged analysts' estimates. Chief executive John Jacobs said Novavax claimed just a low-single-digit percentage market share in the US during the most recent vaccination campaign, as demand for Covid vaccines was smaller than hoped and the company got its protein-based shot to market later than its messenger RNA-based rivals. "We were disappointed with that US performance," Jacobs said in an interview. He said the company's sales force was not targeted enough toward retail pharmacy chains, and that its 5-dose vials were not as convenient for use as rivals' pre-filled syringes.

Private equity firms HIG and Capvest have joined the list of investors who have expressed interest in acquiring AAH Pharmaceuticals - the biggest supplier of goods to British pharmacies. The company, which was bought by German private equity firm Aurelius in 2022, is once again up for sale, according to the Financial Times. Aurelius has hired advisers from BNP Paribas to run an auction process for the pharma giant, with the first round of indicative bids expected later this month, the report said. AAH Pharmaceuticals supplies a network of 14,000 pharmacies across the UK, generating £3bn a year in revenues. Aurelius anticipated that the business could fetch an enterprise value, including debt, of roughly 10 times its earnings, which were projected to be around £90 million this year. People familiar with the matter told the publication that the business has drawn interest from bidders because it was likely to be "the only full-service pharmacy distributor to come to market in the coming years." The auction process is expected to be completed by the end of the year, although Aurelius may decide not to sell the business if the offers do not meet their desired price, the report said.