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 Argentina Star 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 Argentina Star.
More InformationHONG KONG: An engineering vessel with 30 people on board went missing 200 miles off Hong Kong after it snapped ...
NICE, France -As some 1,000 Frenchmen are being hospitalized daily with Covid infections, French officials have "invited" or "recommended" the ...
BRUSSELS, Belgium: Negotiations on a free trade agreement between the European Union and New Zealand ended successfully this week, paving ...
CAIRO, Egypt: Egyptian authorities have prohibited swimming in a stretch of the Red Sea after an Australian woman was killed ...
NEW YORK CITY, New York: Bette Nash, age 86, has been named the longest serving flight attendant in the world, ...
LONDON, England: A UK parliamentary committee has told lawmakers that they may not bring babies to parliamentary proceedings and debates.The ...
HOUSTON, Texas: Exxon Mobil Corp said this week that profits from skyrocketing fuel prices could result in a record $16 ...
BEIJING, China: Chinese airlines announced last week that they would purchase some 300 Airbus jets. This is the largest order ...
SYDNEY, NSW, Australia - Stocks in Asia generally moved higher on Monday despite continuing concerns over a potential global recession. ...
WASHINGTON D.C.: Due to surging food prices, summer cookouts for the U.S. Independence Day holiday are more expensive, forcing Americans ...
WASHINGTON D.C.: In a cardboard box factory outside Baltimore, people have been walking into the office of Paul Centenari, chief ...
DELFT, Netherlands: IKEA officials said this week that the furniture retailer's warehouses in Europe are as full as they were ...