Now trading at their lowest level in three months, Moderna shares have struggled as experts question the long-term viability of the firm’s Covid-19 vaccine sales.
The shot marks the first time an older, protein-based shot has been approved to fight Covid-19 and the first vaccine Novavax has been able to bring to market in its 34-year history.
Merck anticipates up to $7 billion in revenue from the drug through 2022, which it says can halve the risk of hospitalization and death in high-risk patients.