The U.S. Centers for Disease Control (CDC) approved the COVID-19 vaccine from Maryland-based vaccine maker Novavax, unlocking the 3.2 million doses that the U.S. government has purchased from Novavax for widespread distribution.
"Today is another step forward in our nation’s fight against the virus," U.S. President Joe Biden said in a statement about the Novavax approval on Tuesday. Novavax's vaccine is already approved in dozens of countries around the world, but the U.S. may prove a critical market for the company, given its large population and relatively low vaccination rate."
When Australia approved Novavax's COVID vaccine in January, 92.8% of the country's population was fully vaccinated, giving the company a tiny market for its primary two-dose regimen. Australia's approval of Novavax's jab as a booster provided a bigger opportunity, but since January Australia has administered just 167,800 doses of the vaccine, a tiny fraction of the 60.6 million doses Australia has received as a whole. Investors seemed to acknowledge the limitations of the Australian market. After the vaccine won approval there, shares jumped just 1.5%.
