- Novavax ( NASDAQ: NVAX ) and its partner Serum Institute of India on Tuesday said South Africa's drug regulator had granted full conditional product registration for its COVID-19 vaccine.
- The conditional nod came from the South African Health Products Regulatory Authority, NVAX said in a statement .
- NVAX has partnered with Serum Institute, the world's largest manufacturer of vaccines by volume, to make and distribute the COVID shot in many low- and middle-income countries.
- The protein-based shot received approval to be used as a primary series of vaccination in adults aged 18 years and older.
- The vaccine is marketed in South Africa under the brand name Covovax.
- NVAX said the shot had got approval for use in adults from more than 43 countries, including the U.S. and the World Health Organization.
- NVAX stock -9.3% to $29.93 in early trading amidst a slumping broader market .
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South Africa gives full product registration approval to Novavax's COVID-19 shot