Influenza Vaccines

Influenza Vaccines Market Outlook

The global Influenza Vaccines market is projected to reach approximately USD 8.56 billion by 2035, growing at a CAGR of around 6.5% from 2025 to 2035. This growth is primarily driven by the increasing prevalence of influenza virus outbreaks, the rising awareness about vaccination among the populace, and advancements in vaccine development technologies. The push from governments and healthcare organizations toward immunization and public health initiatives is fostering a favorable environment for market expansion. Additionally, the growing geriatric population and the rising incidence of chronic illnesses have been contributing factors necessitating the demand for efficient vaccination solutions. Furthermore, the ongoing research and development activities aimed at producing more effective vaccines cater to the need for enhanced protection against various strains of the influenza virus.

Growth Factor of the Market

One of the prominent growth factors for the Influenza Vaccines market is the increasing focus on public health initiatives aimed at preventing flu outbreaks, which are particularly severe during seasonal peaks. Health organizations, including the World Health Organization (WHO), advocate for annual vaccination, which encourages healthcare providers and patients to prioritize influenza vaccines. Additionally, the rapid advancements in vaccine technologies, such as cell-based and recombinant vaccines, are enhancing the efficacy and safety of flu vaccines, further motivating their adoption. The heightened awareness regarding the potential complications arising from influenza, especially among vulnerable populations, is driving demand, as preventive measures become more critical. Moreover, the integration of innovative technologies in vaccine development processes is anticipated to lead to the introduction of superior products, thereby accelerating market growth. Lastly, the rise of combination vaccines that target multiple strains of the virus is expected to significantly attract healthcare providers and patients alike.

Key Highlights of the Market

• The market is anticipated to expand at a CAGR of 6.5% from 2025 to 2035.
• Quadrivalent Influenza Vaccines are gaining popularity due to their broader strain coverage.
• The rapid adoption of innovative vaccine delivery methods is enhancing patient compliance.
• Government initiatives promote vaccination to reduce healthcare costs associated with influenza.
• Emerging markets are experiencing increased investment in vaccine development and distribution.

By Product Type

Quadrivalent Influenza Vaccines:

Quadrivalent Influenza Vaccines are designed to protect against four different strains of the influenza virus, including two strains of influenza A and two strains of influenza B. This broad coverage increases the likelihood of effective immunization across various virus strains, making these vaccines particularly desirable in regions prone to multiple circulating strains. The growing acknowledgment of their efficacy, supported by clinical data, has propelled their adoption in many countries. Additionally, the continuous updates and modifications made to quadrivalent vaccines in response to emerging strains have enhanced public confidence in their use. Therefore, the market for quadrivalent influenza vaccines is experiencing robust growth as healthcare providers increasingly recommend them during vaccination campaigns.

Trivalent Influenza Vaccines:

Trivalent Influenza Vaccines are another popular vaccine type, providing protection against three strains of the influenza virus. While they have been the traditional choice for many years, their market share is gradually declining in favor of quadrivalent vaccines, which offer broader protection. Nonetheless, trivalent vaccines remain relevant, particularly in areas with established vaccination protocols and where quadrivalent vaccines are not yet widely available. The production process for trivalent vaccines is well-established, enabling manufacturers to efficiently meet demand. The affordability of trivalent vaccines contributes to their continued use, particularly in low-income regions where cost-effective healthcare solutions are crucial.

High-Dose Influenza Vaccines:

High-Dose Influenza Vaccines are specifically formulated for elderly populations, providing a more potent immune response compared to standard vaccines. Given that older adults are at a higher risk of severe flu complications, these vaccines have emerged as a vital tool in protecting this demographic. Clinical trials have demonstrated that high-dose vaccines significantly reduce hospitalizations and complications, prompting healthcare providers to favor them for older patients. As the global population ages, the demand for high-dose influenza vaccines is expected to rise sharply, underpinning the growth of this segment. Furthermore, many countries are now incorporating high-dose vaccines into their public health strategies, further solidifying their role in seasonal vaccination campaigns.

Intradermal Influenza Vaccines:

Intradermal Influenza Vaccines are administered through the skin rather than intramuscularly, utilizing a smaller needle. This delivery method is associated with reduced pain and improved patient comfort, leading to higher vaccination rates, particularly in populations with needle aversion. The intradermal route also allows for a lower vaccine dosage while still eliciting an adequate immune response, which can be a cost-effective alternative. Although their use is still limited compared to traditional vaccines, ongoing research and positive clinical outcomes are likely to increase their acceptance in the market. As more healthcare providers recognize the benefits of intradermal administration, this segment is poised for growth.

Live Attenuated Influenza Vaccines:

Live Attenuated Influenza Vaccines (LAIV) contain weakened versions of the virus, allowing for a robust immune response without causing the disease. These vaccines can be administered as a nasal spray, offering a non-invasive alternative to injections. LAIVs are particularly favored for their ease of administration, especially in pediatric populations. The growing acceptance of LAIVs, combined with their unique advantages, is contributing to their popularity among healthcare providers and patients alike. However, challenges related to storage and transport conditions, as well as limited availability in some regions, could impede their market penetration. Continued education on the efficacy and safety of live attenuated vaccines will be crucial for their broader adoption.

By Application

Hospitals:

Hospitals play a crucial role in the administration of influenza vaccines, as they are often the first point of contact for patients seeking vaccination. Many hospitals integrate flu vaccination into their annual health campaigns, which are aimed at protecting both patients and healthcare workers. The presence of trained healthcare professionals ensures that vaccines are administered safely and effectively, further encouraging patient participation. Hospitals also leverage their resources to educate patients about the importance of flu vaccination and its benefits, contributing to higher vaccination rates. As flu outbreaks can significantly impact hospital admissions, organizations are increasingly prioritizing vaccination efforts, thereby bolstering the market segment related to hospital applications.

Clinics:

Clinics, including private and community clinics, serve as accessible venues for influenza vaccination. They often offer flexible hours and convenient locations, making it easier for patients to get vaccinated. Many clinics run seasonal vaccination drives, which are widely publicized to encourage community participation. Additionally, clinics can cater to specific demographics, such as pediatric and geriatric patients, by providing tailored vaccination services. The rise of telehealth has also facilitated the integration of vaccination services into routine healthcare, allowing clinics to reach a broader audience. This enhanced accessibility and focus on patient convenience are key drivers of growth within this application segment.

Retail Pharmacies:

Retail pharmacies have emerged as a significant distribution channel for influenza vaccines, thanks to their convenience and extended hours. Pharmacists are increasingly trained to administer vaccines, making them a reliable source for flu vaccination. The competitive pricing and accessibility of pharmacies encourage patients to visit for vaccinations rather than relying solely on healthcare facilities. Additionally, many retail pharmacies run promotional campaigns and offer incentives, such as discounts or loyalty points, which attract customers. With their ability to reach a diverse population and provide walk-in vaccination services, retail pharmacies are playing a vital role in the overall influenza vaccination landscape.

Others:

The "Others" category includes various alternative settings for influenza vaccinations, such as workplaces, schools, and community health centers. These venues often organize vaccination campaigns to protect specific populations, such as employees or students, from influenza outbreaks. The convenience of onsite vaccinations significantly boosts participation rates, as individuals may prefer to receive vaccines in familiar environments. Public health initiatives may also include mobile vaccination units that reach underserved communities, further enhancing vaccination accessibility. This diverse array of application settings contributes to the overall growth of the influenza vaccines market.

By Distribution Channel

Adults:

The adult population represents a significant segment for influenza vaccination, considering the increased risk of severe complications from the flu among adults, particularly those with underlying health conditions. Campaigns aimed at raising awareness about the importance of annual vaccination in preventing flu-related hospitalizations are crucial in driving adoption. Healthcare providers often emphasize the need for adults to stay current with their vaccinations, especially as seasonal flu strains evolve. By targeting adults through tailored messaging and outreach initiatives, public health organizations aim to enhance vaccination rates within this demographic.

Pediatrics:

Pediatric vaccination plays a vital role in the Influenza Vaccines market, as children are particularly susceptible to influenza-related complications. Public health initiatives often underscore the importance of vaccinating children to protect not only their health but also that of their families and communities. Schools and childcare facilities frequently collaborate with healthcare providers to host vaccination events, providing parents with convenient access to flu shots. Additionally, healthcare professionals focus on educating parents about the benefits and safety of influenza vaccines for their children, which helps to alleviate concerns and encourage vaccination.

Geriatrics:

The geriatric population is one of the most critical demographics in the Influenza Vaccines market, as older adults face heightened risks of severe influenza illness and mortality. Vaccination is essential for this group, and healthcare providers highly recommend annual flu shots to mitigate risks. Many countries have implemented specific vaccination programs targeting the elderly, ensuring they receive not only standard doses but also high-dose vaccines for better protection. With the aging global population, this segment of the distribution channel is expected to see significant growth as healthcare systems adapt to meet the needs of this vulnerable demographic.

Pregnant Women:

Vaccination during pregnancy is increasingly recognized as a vital preventive measure to protect both mothers and their infants from influenza. Healthcare providers actively promote flu vaccination among pregnant women to reduce the risk of severe illness during pregnancy and to confer passive immunity to newborns. Public health campaigns often seek to dispel myths about vaccine safety during pregnancy, emphasizing that influenza vaccines are safe and recommended by health authorities. As awareness of the importance of vaccination during pregnancy grows, this segment is expected to see enhanced participation rates, contributing positively to the overall market growth.

Healthcare Workers:

Healthcare workers are a critical focus group for influenza vaccination, as they are at increased risk of exposure to influenza viruses and play a vital role in preventing disease transmission within healthcare settings. Many healthcare organizations mandate annual flu vaccinations for their staff to ensure a safer environment for both employees and patients. Training and educational initiatives are often implemented to highlight the importance of vaccination and to reduce hesitancy among healthcare professionals. By prioritizing flu vaccination among healthcare workers, healthcare systems can enhance overall vaccination rates within the communities they serve.

By Ingredient Type

Egg-Based:

Egg-based vaccines have long been the standard for influenza vaccination, utilizing eggs for the production of the virus. This traditional method has been effective in creating vaccines with a strong safety profile and a long history of successful use. However, the reliance on eggs can pose challenges, particularly for individuals with egg allergies. Despite these limitations, egg-based vaccines continue to dominate the market due to their established production processes and regulatory approvals. Manufacturers are continuously working on innovations to enhance the efficiency of egg-based vaccine production, ensuring they remain a reliable option for flu vaccination.

Cell-Based:

Cell-based influenza vaccines utilize mammalian cells for virus propagation, offering a promising alternative to egg-based vaccines. This method allows for faster production times and the ability to generate vaccines that are more adaptable to emerging strains. Additionally, cell-based vaccines do not carry the same allergy concerns associated with egg-based vaccines, thereby broadening their acceptability among diverse populations. As the technology matures and more companies invest in cell-based production capabilities, this segment is expected to experience significant growth, appealing to both healthcare providers and patients.

Recombinant:

Recombinant vaccines represent a cutting-edge approach to influenza vaccination, employing genetic engineering techniques to produce vaccines without the need for live virus. This innovative method ensures a rapid response to emerging strains and eliminates the risk of allergens present in egg-based vaccines. Recombinant vaccines offer a high degree of efficacy and safety, appealing to those who may be hesitant about traditional vaccination methods. As awareness grows regarding the benefits of recombinant technology and its effectiveness in combating influenza, this segment is likely to see substantial growth in demand.

By Region

The North American region is anticipated to dominate the global Influenza Vaccines market, accounting for over 40% of the total market share by 2035. The high prevalence of seasonal influenza outbreaks, coupled with a well-established healthcare infrastructure, drives vaccination rates in this region. Additionally, public health campaigns and government initiatives further enhance awareness and participation in vaccination programs. The continuous development of innovative vaccines and the presence of leading pharmaceutical companies contribute to the overall growth of the market in North America. The CAGR for this region is forecasted to be around 6.3%, reflecting a steady increase in vaccine adoption.

Europe is set to follow closely behind, capturing approximately 30% of the market share by 2035. The region benefits from robust healthcare systems and a high degree of public awareness regarding the importance of seasonal flu vaccinations. Countries such as the United Kingdom, Germany, and France have implemented effective public health policies to encourage vaccination among vulnerable populations. Additionally, the increasing incidence of influenza-related complications among the elderly further drives demand in this region. The expected CAGR for Europe is around 6.0%, indicating a healthy growth trajectory in the coming years.

Opportunities

One of the most significant opportunities in the Influenza Vaccines market is the rising trend of personalized medicine, which is gradually making its way into vaccine development. With advancements in genetic research and understanding of the immune response, there is potential for creating tailored vaccines that address the specific needs of individual populations. By leveraging data analytics and biomarkers, healthcare organizations can identify which vaccine formulations are most effective for different demographics, thereby increasing vaccination efficacy and patient compliance. This personalized approach not only enhances the healthcare experience for patients but also strengthens the overall effectiveness of public vaccination strategies. Furthermore, as global awareness of the importance of vaccination grows, there will be more opportunities for healthcare providers to engage with communities and promote vaccination outreach initiatives.

Another promising opportunity lies in the expansion of vaccine production capabilities within emerging markets. Many developing countries are beginning to implement their own vaccination programs, creating a burgeoning demand for influenza vaccines. Manufacturers have the chance to establish partnerships with local governments and healthcare facilities to supply vaccines tailored to specific populations. Additionally, the increasing investment in healthcare infrastructure in these regions, along with growing public awareness regarding vaccination, presents a unique opportunity for market players to expand their distribution channels and product offerings. By entering new markets and adapting to local needs, companies can significantly enhance their growth potential and contribute to global public health initiatives.

Threats

The Influenza Vaccines market faces potential threats from vaccine hesitancy and misinformation, which can significantly impact vaccination rates. There has been a growing trend of skepticism regarding vaccines, fueled by the spread of misinformation on social media and other platforms. This atmosphere of doubt can lead to decreased participation in vaccination campaigns, undermining public health efforts aimed at controlling influenza outbreaks. Healthcare providers are challenged to combat these misconceptions through education and transparent communication about the safety and efficacy of vaccines. If left unaddressed, vaccine hesitancy can have dire consequences, particularly for vulnerable populations that rely on herd immunity to stay protected from influenza.

Another concerning factor is the possibility of supply chain disruptions that can affect vaccine availability. The global pandemic has highlighted vulnerabilities in supply chains, making the Influenza Vaccines market susceptible to similar challenges. Natural disasters, geopolitical tensions, or disruptions in production capabilities can hinder the timely distribution of vaccines, impacting vaccination campaigns and public health outcomes. To mitigate these risks, manufacturers need to develop robust supply chain strategies and collaborate with logistics partners to ensure that vaccines are delivered efficiently and reliably. By preparing for potential disruptions, companies can enhance their resilience and continue to meet market demands.

Competitor Outlook

• Sanofi Pasteur
• GlaxoSmithKline (GSK)
• Merck & Co., Inc.
• Pfizer Inc.
• Abbott Laboratories
• Baxter International Inc.
• Seqirus
• Moderna, Inc.
• Novavax, Inc.
• Hoffmann-La Roche Ltd.
• Vaxart, Inc.
• MedImmune LLC
• VBI Vaccines Inc.
• Inovio Pharmaceuticals, Inc.
• Janssen Pharmaceuticals

The competitive landscape of the Influenza Vaccines market is characterized by a mix of established players and emerging companies striving to innovate and capture market share. Major pharmaceutical companies dominate the market, leveraging their extensive research and development capabilities to produce effective vaccines. These companies invest heavily in clinical trials and regulatory approvals to ensure that their products meet the demands of changing influenza virus strains. Competitive strategies often include partnerships with healthcare organizations, public health campaigns, and educational initiatives to promote the importance of vaccination. As the market evolves, companies must continue to adapt to shifting consumer preferences and regulatory landscapes to maintain their competitive edge.

Sanofi Pasteur is one of the leading players in the influenza vaccine market, known for its extensive portfolio of vaccine products, including both egg-based and cell-based vaccines. The company invests significantly in research and development to ensure the efficacy and safety of its vaccines, thereby earning a strong reputation among healthcare providers and patients. Sanofi Pasteur’s global reach and commitment to public health initiatives position them as a key player in addressing seasonal influenza challenges. Their ability to produce vaccines at scale and adapt to emerging strains has solidified their standing in the market.

Another significant competitor is GlaxoSmithKline (GSK), which has made substantial contributions to the influenza vaccines market with its innovative vaccine formulations. GSK offers both seasonal and pandemic vaccines, demonstrating its capability to respond to various public health needs. The company's emphasis on vaccine research and its commitment to accessibility and affordability have bolstered its reputation in the market. GSK’s partnerships with governments and health organizations further enhance its ability to distribute vaccines effectively and respond to influenza outbreaks promptly. As the company continues to innovate, it remains a formidable competitor in the ever-evolving influenza vaccination landscape.

• 1 Appendix

  • 1.1 List of Tables
  • 1.2 List of Figures

• 2 Introduction

  • 2.1 Market Definition
  • 2.2 Scope of the Report
  • 2.3 Study Assumptions
  • 2.4 Base Currency & Forecast Periods

• 3 Market Dynamics

  • 3.1 Market Growth Factors
  • 3.2 Economic & Global Events
  • 3.3 Innovation Trends
  • 3.4 Supply Chain Analysis

• 4 Consumer Behavior

  • 4.1 Market Trends
  • 4.2 Pricing Analysis
  • 4.3 Buyer Insights

• 5 Key Player Profiles

  • 5.1 Seqirus
    • 5.1.1 Business Overview
    • 5.1.2 Products & Services
    • 5.1.3 Financials
    • 5.1.4 Recent Developments
    • 5.1.5 SWOT Analysis
  • 5.2 Pfizer Inc.
    • 5.2.1 Business Overview
    • 5.2.2 Products & Services
    • 5.2.3 Financials
    • 5.2.4 Recent Developments
    • 5.2.5 SWOT Analysis
  • 5.3 Vaxart, Inc.
    • 5.3.1 Business Overview
    • 5.3.2 Products & Services
    • 5.3.3 Financials
    • 5.3.4 Recent Developments
    • 5.3.5 SWOT Analysis
  • 5.4 MedImmune LLC
    • 5.4.1 Business Overview
    • 5.4.2 Products & Services
    • 5.4.3 Financials
    • 5.4.4 Recent Developments
    • 5.4.5 SWOT Analysis
  • 5.5 Moderna, Inc.
    • 5.5.1 Business Overview
    • 5.5.2 Products & Services
    • 5.5.3 Financials
    • 5.5.4 Recent Developments
    • 5.5.5 SWOT Analysis
  • 5.6 Novavax, Inc.
    • 5.6.1 Business Overview
    • 5.6.2 Products & Services
    • 5.6.3 Financials
    • 5.6.4 Recent Developments
    • 5.6.5 SWOT Analysis
  • 5.7 Sanofi Pasteur
    • 5.7.1 Business Overview
    • 5.7.2 Products & Services
    • 5.7.3 Financials
    • 5.7.4 Recent Developments
    • 5.7.5 SWOT Analysis
  • 5.8 Merck & Co., Inc.
    • 5.8.1 Business Overview
    • 5.8.2 Products & Services
    • 5.8.3 Financials
    • 5.8.4 Recent Developments
    • 5.8.5 SWOT Analysis
  • 5.9 VBI Vaccines Inc.
    • 5.9.1 Business Overview
    • 5.9.2 Products & Services
    • 5.9.3 Financials
    • 5.9.4 Recent Developments
    • 5.9.5 SWOT Analysis
  • 5.10 Abbott Laboratories
    • 5.10.1 Business Overview
    • 5.10.2 Products & Services
    • 5.10.3 Financials
    • 5.10.4 Recent Developments
    • 5.10.5 SWOT Analysis
  • 5.11 GlaxoSmithKline (GSK)
    • 5.11.1 Business Overview
    • 5.11.2 Products & Services
    • 5.11.3 Financials
    • 5.11.4 Recent Developments
    • 5.11.5 SWOT Analysis
  • 5.12 Hoffmann-La Roche Ltd.
    • 5.12.1 Business Overview
    • 5.12.2 Products & Services
    • 5.12.3 Financials
    • 5.12.4 Recent Developments
    • 5.12.5 SWOT Analysis
  • 5.13 Janssen Pharmaceuticals
    • 5.13.1 Business Overview
    • 5.13.2 Products & Services
    • 5.13.3 Financials
    • 5.13.4 Recent Developments
    • 5.13.5 SWOT Analysis
  • 5.14 Baxter International Inc.
    • 5.14.1 Business Overview
    • 5.14.2 Products & Services
    • 5.14.3 Financials
    • 5.14.4 Recent Developments
    • 5.14.5 SWOT Analysis
  • 5.15 Inovio Pharmaceuticals, Inc.
    • 5.15.1 Business Overview
    • 5.15.2 Products & Services
    • 5.15.3 Financials
    • 5.15.4 Recent Developments
    • 5.15.5 SWOT Analysis

• 6 Market Segmentation

  • 6.1 Influenza Vaccines Market, By Application
    • 6.1.1 Hospitals
    • 6.1.2 Clinics
    • 6.1.3 Retail Pharmacies
    • 6.1.4 Others
  • 6.2 Influenza Vaccines Market, By Product Type
    • 6.2.1 Quadrivalent Influenza Vaccines
    • 6.2.2 Trivalent Influenza Vaccines
    • 6.2.3 High-Dose Influenza Vaccines
    • 6.2.4 Intradermal Influenza Vaccines
    • 6.2.5 Live Attenuated Influenza Vaccines
  • 6.3 Influenza Vaccines Market, By Ingredient Type
    • 6.3.1 Egg-Based
    • 6.3.2 Cell-Based
    • 6.3.3 Recombinant
  • 6.4 Influenza Vaccines Market, By Distribution Channel
    • 6.4.1 Adults
    • 6.4.2 Pediatrics
    • 6.4.3 Geriatrics
    • 6.4.4 Pregnant Women
    • 6.4.5 Healthcare Workers

• 7 Competitive Analysis

  • 7.1 Key Player Comparison
  • 7.2 Market Share Analysis
  • 7.3 Investment Trends
  • 7.4 SWOT Analysis

• 8 Research Methodology

  • 8.1 Analysis Design
  • 8.2 Research Phases
  • 8.3 Study Timeline

• 9 Future Market Outlook

  • 9.1 Growth Forecast
  • 9.2 Market Evolution

• 10 Geographical Overview

  • 10.1 Europe - Market Analysis
    • 10.1.1 By Country
      • 10.1.1.1 UK
      • 10.1.1.2 France
      • 10.1.1.3 Germany
      • 10.1.1.4 Spain
      • 10.1.1.5 Italy
  • 10.2 Asia Pacific - Market Analysis
    • 10.2.1 By Country
      • 10.2.1.1 India
      • 10.2.1.2 China
      • 10.2.1.3 Japan
      • 10.2.1.4 South Korea
  • 10.3 Latin America - Market Analysis
    • 10.3.1 By Country
      • 10.3.1.1 Brazil
      • 10.3.1.2 Argentina
      • 10.3.1.3 Mexico
  • 10.4 North America - Market Analysis
    • 10.4.1 By Country
      • 10.4.1.1 USA
      • 10.4.1.2 Canada
  • 10.5 Influenza Vaccines Market by Region
  • 10.6 Middle East & Africa - Market Analysis
    • 10.6.1 By Country
      • 10.6.1.1 Middle East
      • 10.6.1.2 Africa

• 11 Global Economic Factors

  • 11.1 Inflation Impact
  • 11.2 Trade Policies

• 12 Technology & Innovation

  • 12.1 Emerging Technologies
  • 12.2 AI & Digital Trends
  • 12.3 Patent Research

• 13 Investment & Market Growth

  • 13.1 Funding Trends
  • 13.2 Future Market Projections

• 14 Market Overview & Key Insights

  • 14.1 Executive Summary
  • 14.2 Key Trends
  • 14.3 Market Challenges
  • 14.4 Regulatory Landscape

Segments Analyzed in the Report

The global Influenza Vaccines market is categorized based on

By Product Type

• Quadrivalent Influenza Vaccines
• Trivalent Influenza Vaccines
• High-Dose Influenza Vaccines
• Intradermal Influenza Vaccines
• Live Attenuated Influenza Vaccines

By Application

• Hospitals
• Clinics
• Retail Pharmacies
• Others

By Distribution Channel

• Adults
• Pediatrics
• Geriatrics
• Pregnant Women
• Healthcare Workers

By Ingredient Type

• Egg-Based
• Cell-Based
• Recombinant

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key Players

• Sanofi Pasteur
• GlaxoSmithKline (GSK)
• Merck & Co., Inc.
• Pfizer Inc.
• Abbott Laboratories
• Baxter International Inc.
• Seqirus
• Moderna, Inc.
• Novavax, Inc.
• Hoffmann-La Roche Ltd.
• Vaxart, Inc.
• MedImmune LLC
• VBI Vaccines Inc.
• Inovio Pharmaceuticals, Inc.
• Janssen Pharmaceuticals