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US to buy 3.2 million Novavax COVID vaccine doses

Gaithersburg, Maryland-based Novavax is still awaiting regulatory approval for its COVID-19 vaccine in the U.S., but already has a deal to sell the vaccine here.

The Biden administration announced on Monday it would buy 3.2 million doses of the protein-based Novavax vaccine, contingent on final emergency use authorization from the Food and Drug Administration. An independent FDA panel recommended approval of the vaccine last month.



It would be the only protein-based vaccine available for use — a more traditional type of vaccine which Novavax believes will appeal to people who have been hesitant to get one of the mRNA vaccines currently approved.

It can also be stored at much higher refrigeration temperatures. It is a two-dose vaccine that would initially be available as a primary vaccine, with potential approval as a booster to follow.

The U.S. purchase agreement is also contingent on recommendation from the Centers for Disease Control and Prevention.

It would be made available for free to states, jurisdictions, federal pharmacy partners, and federally qualified health centers.

The Novavax vaccine is already approved and in use in several other countries.

Shares fall in Asia, with Kospi down 5.2%, while oil prices jump

BANGKOK (AP) — Shares slipped Wednesday in Asia after Wall Street pulled further from its all-time high as artificial-intelligence stocks resumed their decline. South Korea’s Kospi led the regional retreat, dropping 5.2% to 6,515.97. The two biggest companies benefiting from the AI boom tracked losses for their U.S. rivals. Samsung Electronics shed 6.9%, while memory chipmaker SK Hynix tumbled 7.9%. In Tokyo, the Nikkei 225 sank 2.6% to 65,703.78. The Hang Seng in Hong Kong lost 0.4% to 25,382.66, while the Shanghai Composite index shed 1.5% to 3,927.70. Taiwan's Taiex fell 1.4%, and Australia's S&P/ASX 200 slipped 0.4% to 9,083.70. Apart from renewed jitters over criticism that AI-related stocks have shot too high, rising oil prices also were clouding market sentiment.
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