Novavax Covid Vaccine On the Verge of Approval in Japan, Reports Nikkei Asia

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Investing.com — Novavax Inc’s (NASDAQ:NVAX) Covid-19 vaccine has been cleared for approval by a Japanese government panel, according to Nikkei Asia.

The Novavax vaccine will become Japan’s fourth vaccine option, reported Nikkei’s Daishi Chiba.

Before shots can be administered, the vaccine will need to be approved by a separate expert committee within the health ministry. If it gets the go-ahead, it will be available to people 18 and over and can be used for the first two shots, as well as booster jabs.

Novavax has already contracted Takeda Pharmaceuticals to manufacture and distribute the vaccine in Japan. 

Shares of Novavax dipped 5.5% Monday despite the news, adding to its significant decline in 2022. However, it clawed back some of its losses from earlier in the session following the report. 

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