PARIS (Reuters) – Valneva rose on Monday after the Canadian drug authority gave approval to the marketing of the chikungunya vaccine developed by a French laboratory.
The group, which began marketing its Ixchiq vaccine in the United States this year, said in a press release that it plans to sell the first doses in Canada during the fourth quarter of 2024.
On the Paris Stock Exchange, around 08:00 GMT, Valneva shares advanced 7.2% to 3.33 euros compared to a gain of 0.5% for the SBF 120 index at the same time.
“This is very good news, which confirms the potential of Ixchiq,” said Mohamed Kaabouni, analyst at Portzamparc.
In a note, he adds that this announcement comes shortly after favorable recommendations from the Committee for Medicinal Products for Human Use, which should pave the way for marketing authorization of Valneva’s vaccine in Europe from the third quarter of 2024.
No antiviral treatment is available against chikungunya and the best way until now to protect against it has been to avoid mosquito bites.
(Written by Augustin Turpin with Mathias de Rozario, edited by Blandine Hénault)
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