Market Desk (health): The US Food and Drug Administration authorized the use of Novavax Inc’s (NVAX.O) COVID-19 vaccine on Wednesday.
The shares of Novavax rose 1.3% to US$ 70.89 after its 2 dose vaccine became the 4th companyto be authorized for use in adults in the US.
The US Centers for Disease Control and Prevention (CDC) still needs to sign off use of thisvaccine before it can be made available to people. This added another dimension to vaccine delivery in the US to control the epidemic.
The FDA Commissioner, Robert M. Califf, said in a statement on Wednesday that “many adults in the US have not received vaccine.” The Novavax vaccine was approved for them on an emergency basis. Moreover, the safety, efficacy and quality of this vaccine have also been tested and approved for adults, he added. He also said, clinical trials on thousands of people in the US and Mexico have found 90% benefits from this vaccine.
However, still now about 77% of adults in the US already received the COVID vaccine.
Novavax has projected between US$ 4 to US$ 5bn in sales this year. Analysts expect sales at the lower end of that range, according to Refinitiv.