Valneva considering COVID-19 future
French specialty vaccine company Valneva (Euronext Paris: VLA), a late-comer in the race to develop coronavirus vaccines, announced it has suspended manufacturing of VLA2001 and is exploring strategic options.
The company made the announcement alongside presenting its financial results on Thursday.
In light of the reduced order volume from European Union member states, Valneva has suspended manufacturing of the vaccine and recognized write-downs of 100.6 million euros ($104 million) as of June 30, 2022 relating to existing inventory acquired to produce and supply volumes under the original European Comission (EC) Advance Purchase Agreement (APA).
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