Valneva vaccine collapses in Paris, FDA suspends its vaccine in the US

(Il Sole 24 Ore Radiocor) - Valneva is plummeting on the Paris Stock Exchange. Shares of the Franco-Austrian laboratory are down more than 25%. The sell-off was triggered by news that the U.S. Food and Drug Administration (FDA) has suspended the authorization of its chikungunya vaccine following new cases of serious side effects.

"This suspension is effective immediately and will halt the shipment and sale of Ixchiq," the brand name of the vaccine, "in the United States," Valneva said in a statement. The measure comes just weeks after the lifting of a temporary ban on the vaccine for people over 60, following a review of serious adverse events, primarily seen among older people with various chronic conditions. "This sudden license suspension is based on updated data from the US Vaccine Adverse Event Reporting System (VAERS), which includes four new cases of serious side effects reported outside the United States," the company explained. The group states that it will continue to analyze these cases in detail and, if necessary, take any action related to the FDA's decision. Valneva is also evaluating the financial impact that a possible permanent withdrawal of the vaccine in the US could have, but for now, is not changing its revenue forecast.