The World Health Organization on Friday issued an emergency use listing to Serum Institute of India’s version of Novavax Inc.’s COVID-19 vaccine, paving the way for the two companies to ship their doses for the COVAX program.
The EUL to the shot, Covovax, marks a significant milestone for Novavax as well, after the vaccine had been caught up with delays, especially in ramping up production. Shares of Novavax were up 6.4 percent on the news.
Novavax’s own vaccine Nuvaxovid, though, is currently under assessment by the European Medicines Agency, and the WHO said it will complete its own assessment of the shot once the EMA has issued its recommendation.
Novavax and Serum Institute, the world’s largest vaccine producer, have together committed to providing more than 1.1 billion doses to the COVAX facility.