Novavax Shares Fall 1% Following Nuvaxovid Approval in Japan

By Denny Jacob

Novavax Inc. shares fell 1.1% to $54.54 after the company said Nuvaxovid, its protein-based Covid-19 vaccine, was approved for primary and booster immunization for adults in Japan.

The biotechnology company said its partner, Takeda, received manufacturing and marketing approval from the Japan Ministry of Health, Labour and Welfare for Nuvaxovid. Nuvaxovid hasn't been authorized for use in the U.S.

Novavax said Takeda will begin distribution of doses purchased by Japan's government as soon as possible.

The approval is based on Takeda's new drug application submission, which included positive interim results from a Phase 1/2 study conducted by the company in Japan and several studies conducted by Novavax.

Write to Denny Jacob at [e-mail]

(END) Dow Jones Newswires

04-19-22 1110ET