U.S. FDA Approves Updated COVID Vaccines

The U.S. Food and Drug Administration (FDA) approved updated COVID-19 vaccines today, Monday, that can largely combat the currently widespread Omicron variants, allowing for the rollout of vaccine doses this month. The agency authorized doses targeting the subvariant (XBB.1.5) produced by Pfizer and its German partner BioNTech, as well as Moderna, for emergency use. Moderna announced that the updated vaccines are expected to be available in the coming days. Competing vaccine manufacturer Novavax indicated that its vaccine is still under review by the FDA. Novavax's stock fell 6.7 percent in afternoon trading. The FDA's approval comes following an increase in cases in late summer as the Omicron subvariant (EG.5), known as "Eris," begins to spread rapidly in the U.S. and other parts of the world. Approval from CDC Director Mandy Cohen will pave the way for administering the new doses. Cohen stated she expects the doses to be available in September.