(Reuters) – Valneva flies away on Monday on the Paris Stock Exchange after announcing last Friday the lifting of the temporary restriction of the European Medicines Agency (EMA) on its chikungunya vaccine among the elderly.
The action of the French pharmaceutical laboratory advances 7.3% around 07:50 GMT, after climbing more than 13% earlier during the day.
The group announced on Friday that EMA would raise its temporary restriction on the vaccination of people aged 65 and over with its single dose vaccine against chikungunya, IXCHIQ, following the completion of a complete product review by the committee for risk assessment in the agency pharmacovigilance.
The group notes that the EMA stresses that the vaccine is already contraindicated for people whose immune system is weakened and concludes that, for people of all ages, it must be administered when there is a significant risk of infection by chikungunya and after an in-depth examination of profits and risks.
The committee had started its exam in early May after certain serious side effects, mainly in the elderly suffering from several chronic diseases, had been reported.
Van Lanschot Kempen analysts believe that, considering that the same recommendation is specified in the drug label in the United States, the similar suspension issued by the American Medicines Agency (FDA) could be lifted in the coming months.
“Although IXCHIQ represents only a minor part of our evaluation, we are planning a positive reaction to the course of action today,” said the broker.
(Written by Diana Mandiá, with Piotr Lipinski, edited by Augustin Turpin)
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