Novavax gets South Korea approval

South Korea is looking for ways to pre-empt the wave of omicron infections and they see Novavax as the perfect additional tool to counteract the aggressively expanding surge of the third wave. Novavax Inc.’s vaccine was approved by the government on Wednesday and the government is all set to distribute the first of Pfizer’s antiviral pill.

NVX-CoV2373 is the first protein-based COVID-19 vaccine to be approved for commercial use in South Korea, and it will be manufactured by SK Bioscience in the country. The vaccine has also acquired conditional marketing clearance in the EU and a World Health Organization emergency use listing. The corporation intends to submit an emergency usage request.

Shares were up 1.5 percent premarket and are up 12 percent year to date, while the S&P 500 SPX, +0.92 percent is up 24 percent.

At least 21,000 of Pfizer’s (PFE.N) antiviral pills, called Paxlovid, will arrive in South Korea on Thursday, with another 10,000 more expected to arrive by the end of the month, the health ministry said. At least 21,000 Paxlovid antiviral pills from Pfizer will arrive in South Korea on Thursday, with another 10,000 expected by the end of the month. According to data from the company’s clinical trial, Paxlovid was nearly 90% effective in preventing hospitalizations and deaths in patients at high risk of severe illness.

Novavax has partnered with the Serum Institute of India, and the latter will help supply the vaccine in India, Indonesia, and the Philippines where it has been approved.

The vaccine shall be given to eligible individuals, that is, 18 or above and the second dose shall be administered 21 days after the first. The vaccine has already received approval from European Union officials, the World Health Organization, and a number of Asian nations. The firm has also stated that it will file a request with the US Food and Drug Administration. Nuvaxovid is a protein-based vaccine derived from the genetic sequence of SARS-CoV-2, the virus that causes COVID-19, according to Yonhap.

According to studies, it has been understood that the vaccines can best be preserved under refrigerator temperature between 2-8 Celcius up to 5 months.

SK Bioscience has set aside manufacturing capacity for Nuvaxovid at its facilities in Andong, roughly 270 kilometers south of Seoul, until 2022.

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