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Novavax shares were up about 5% in premarket trade.
Jacobs takes over the role effective Jan. 23. He joins Novavax from Harmony Biosciences, where he served as CEO since June 2018.
Erck, who has been at the helm of the company since 2011, was responsible for bringing Novavax’s COVID vaccine, its first commercial product, to the market.
However, the shot has been plagued by manufacturing snags, regulatory delays and sluggish uptake amid a global supply glut for vaccines and waning demand.
