EU approves use of Novavax Covid-19 vaccine

Novavax said it would start shipping vaccines to the EU's 27 member states in January as part of its deal to supply up to 200 million doses.

The European Union on Monday approved the use of Novavax's (NVAX.O) Covid-19 vaccine in people 18 years and older, giving a boost to the U.S. biotech after long delays and paving the way for a fifth shot in the EU as the Omicron variant spreads quickly.

Data from two large studies showed the vaccine has an efficacy of around 90%, the European Medicines Agency (EMA) said, adding there was currently limited data on its efficacy against some variants of concern, including Omicron.