Voice of America
24 Jun 2022, 04:36 GMT+10
Valneva's VLS.PA COVID-19 vaccine was endorsed by the European Medicines Agency (EMA) on Thursday, although the French company's contract with the European Commission to supply the dose hangs in the balance.
Valneva has been trying to salvage the deal with the European Commission after its vaccine program was hit by delays in its marketing application due to requests from the EMA for more information.
The original deal was for up to 60 million doses. But due to application delays and countries in Europe already having excess supply, the Commission has signalled that it wants to amend the agreement for a much smaller number of doses, Valneva said earlier this month.
But, according to Valneva CEO Thomas Lingelbach, if those volumes are confirmed, that would not be enough to sustain the company's vaccine program.
A Valneva spokesperson said on Wednesday the contract continues to be discussed by the Commission and member states.
Valneva's vaccine is the sixth shot to be recommended by the EMA for COVID-19. A final decision on the vaccine's approval is expected shortly by the Commission.
Valneva's Paris-listed shares jumped around 22% on Thursday.
Britain cancelled its Valneva vaccine contract in 2021, although the company has secured approvals in Bahrain and the United Arab Emirates.
Valneva's vaccine uses technology already employed for decades in shots against polio, influenza and hepatitis. The company has bet it will win over people who had refused COVID vaccines that used mRNA and other new technologies.
But demand for a new crop of COVID vaccines remains uncertain. U.S.-based Novavax's NVAX.O shot uses a traditional technology like Valneva's but has had limited take up in Europe, with about 220,000 doses administered out of 12.6 million distributed in the region.
Some vaccine makers, such as AstraZeneca AZN.L and Johnson & Johnson JNJ.N, have warned of a global COVID vaccine glut.
Get a daily dose of Dublin News news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Dublin News.
More InformationDELFT, Netherlands: IKEA officials said this week that the furniture retailer's warehouses in Europe are as full as they were ...
NEW YORK CITY, New York: After the first six months of 2022, the S&P 500 recorded a loss of 20.6 ...
WASHINGTON D.C.: Due to the record high trade deficit and a resurgence in COVID-19 infections that curbed spending on services, ...
TAIPEI, Taiwan: The world's fourth largest chip designer by revenue, Taiwan's MediaTek, has told Reuters that it plans to create ...
NEW YORK, New York - U.S. stocks rebounded on Friday, a day after major across-the-board sell-offs."Consensus estimates for 2022 and ...
GENEVA, Switzerland: Swiss pharmaceutical group Novartis has said, as part of its previously announced restructuring program, that it could cut ...
LONDON, England: A second referendum on Scottish independence is set to be held in October 2023. The Scottish government, led ...
BERLIN, Germany: A German Interior Ministry spokesperson has said that in a bid to relieve airports overwhelmed by staff shortages ...
PARIS, France: In a written statement made this week confirming a report from broadcaster RTL, France's energy ministry said the ...
WATFORD, UK: Watford F.C. has cancelled a friendly match against the Qatar national team due to the Gulf country's human ...
JAKARTA, Indonesia: Indonesian President Joko Widodo has said that he will urge his Russian and Ukrainian counterparts to open peace ...
ISTANBUL, Turkey: Turkish police detained dozens of people after local authorities banned Istanbul's annual Pride parade from going ahead this ...