Novavax’s COVID-19 Vaccine Is Approved For Use In Canada - InvestingChannel

Novavax’s COVID-19 Vaccine Is Approved For Use In Canada

U.S. pharmaceutical company Novavax’s (NVAX) COVID-19 vaccine has been approved for use in Canada.

The vaccine, which is protein-based, is the first of its kind to get approval in the country. Health experts say a non-mRNA vaccine could win over some vaccine-hesitant people who have still not received a dose of a COVID-19 vaccine.

Novavax submitted its vaccine for approval to Health Canada last November. The Novavax shot has already been cleared for use in other countries, including Australia, Indonesia and Singapore.

Ottawa also signed a deal last year to produce the Novavax vaccine in Canada and a manufacturing plant has been constructed in Montreal, Quebec.

Novavax applied in late January for Emergency Use Authorization (EUA) of its COVID-19 vaccine with the U.S. Food and Drug Administration (FDA) following several delays. No timetable has been set for a possible FDA approval.