(Reuters) – French vaccine maker Valneva announced a reduction in its half-year loss on Thursday as the rebound in tourism supported sales of its vaccines for travelers.
The group, which develops, manufactures and distributes vaccines against infectious diseases, reported a net loss of 35 million euros in the first half of 2023, compared to a loss of 171.5 million euros a year earlier .
“We recorded another quarter of strong growth, with first-half vaccine sales more than doubling compared to the previous year, while continuing to advance our clinical programs,” said Valneva’s CFO. Peter Bühler in a press release.
Product sales more than doubled in the first half to 69.7 million euros compared to 33.3 million in the first half of the previous year, also thanks to price increases.
The group is focusing on its vaccine candidates against Lyme disease, developed in partnership with Pfizer and which is the subject of a phase 3 trial, as well as that against chikungunya, on which the Food and Drug Administration (FDA) American must decide at the end of November.
The development of these vaccines is all the more important as the group seeks to recover from the disappointment caused by its COVID-19 vaccine.
Valneva had obtained marketing authorization in Europe and certain other countries for its COVID-19 vaccine, but suspended manufacturing in light of reduced order volumes.
The group also reiterated its outlook for 2023.
(Written by Stéphanie Hamel and Gaëlle Sheehan, Diana Mandiá; edited by Zhifan Liu)
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