The COVID-19 vaccine from Novavax Inc. may cause serious allergic reactions, according to the European Medicines Agency. The vaccine’s product label in the United States forbids giving the shot to anyone who has had a history of acute toxicity to any of the vaccine’s components. The vaccine was approved by American regulators on July 13th.
In morning trade, Novavax shares dropped 20.3% to $55.72, along with the overall market and other COVID-19 vaccine manufacturers. Shares of Novavax are typically unstable.
The EMA announced that it would also add a new adverse effect—an odd or diminished feeling in the skin—to the vaccine’s package literature.
The European Centre for Disease Prevention and Control reports that since its release in December, just 250,000 doses of Nuvaxovid, the COVID vaccine manufactured by Novavax, have been administered throughout Europe.