Health Canada Approves Updated Pfizer and Moderna COVID-19 Vaccines for Fall Rollout

Health Canada has approved updated COVID-19 vaccines from Pfizer and Moderna for fall rollout. The new mRNA shots target the LP.8.1 variant and are approved for adults and children six months of age and older. The provinces and territories will decide who receives the vaccines for free. The National Advisory Committee on Immunization recommends vaccination for seniors, long-term care residents, immunocompromised individuals, healthcare workers, and those at risk of severe illness.

Health Canada has approved updated COVID-19 vaccines from Pfizer and Moderna, targeting the LP.8.1 variant, for use in adults and children aged six months and older. The approvals are set to facilitate a timely rollout of these vaccines for the upcoming 2025-2026 vaccination season.

The approvals come as both companies have been manufacturing the vaccines domestically. Moderna's Spikevax® vaccine will be produced at its new facility in Laval, Quebec, with fill-finish operations at Novocol Pharma in Cambridge, Ontario. This marks a significant milestone in Canadian biomanufacturing, ensuring that all 2025 pre-filled syringe doses for the Canadian market will be produced within the country [1].

Pfizer and BioNTech's Comirnaty vaccine will also be available in Canada this fall, with both companies working to streamline access and reimbursement for individuals not covered under public programs. The provinces and territories will decide who receives the vaccines for free, based on their own criteria [2].

The National Advisory Committee on Immunization (NACI) recommends vaccination for seniors, long-term care residents, immunocompromised individuals, healthcare workers, and those at risk of severe illness. The approvals from Health Canada are part of the ongoing global effort to combat the evolving COVID-19 pandemic and ensure the safety and efficacy of vaccines against new variants [3].

Moderna's stock climbed more than 5% on Friday following the approval, reflecting investor confidence in the company's ability to meet demand and maintain its competitive position in the COVID-19 vaccine market [3].

References:
[1] https://www.stocktitan.net/news/MRNA/moderna-receives-health-canada-approval-for-updated-covid-19-vaccine-ng7wqy4nb3gy.html
[2] https://www.marketscreener.com/news/moderna-s-updated-covid-19-vaccine-gets-canadian-go-ahead-for-fall-vaccination-season-ce7c50dad081f522
[3] https://www.tradingview.com/news/gurufocus:e60a1d256094b:0-moderna-stock-jumps-after-canada-approves-new-covid-vaccine/