Novavax shares jump on first global approval of COVID-19 vaccine

2 November 2021

The COVID-19 vaccine developed by US biotech Novavax (Nasdaq: NVAX) and its partner the Serum Institute of India (SII) has been granted a regulatory approval for the first time.

The National Agency of Drug and Food Control of the Republic of Indonesia has granted emergency use authorization (EUA) for Novavax' recombinant nanoparticle protein-based vaccine with Matrix-M adjuvant. It will be manufactured by SII in India and marketed by SII in Indonesia under the brand name Covovax.

Shares in Novavax closed 16% higher on Monday, when the approval was announced.

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