Sam Boughedda

Investing.com — Novavax Inc’s (NASDAQ:) Covid-19 vaccine has been cleared for approval by a Japanese government panel, according to Asia.

According to Nikkei’s Daishi Chuba, Japan will now have the fourth option for vaccinating with Novavax.

A separate committee from the Ministry of Health must approve the vaccine before it can be given. The vaccine will be made available to anyone aged 18 or over if the approval is granted. It can also be used as a booster shot and for the first 2 shots.

Novavax already has Takeda Pharmaceuticals as its Japanese distributor for the vaccine. 

Novavax’s shares dropped 5.5% Monday in spite of the news. Its significant drop for 2022 was further compounded by this. It has since recovered some of the losses that it sustained earlier in session due to the report.