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Vaccine stocks BioNTech (BNTX) and Modern (MRNA) was overthrown on Friday after a Food and Drug Administration panel overwhelmingly voted against Covid booster injections for people 16 and older.
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The FDA’s Advisory Committee on Vaccines and Related Biologics voted 16-2 against booster shots for people 16 years of age and older. But the panel voted unanimously in favor of booster injections for people 65 and older, as well as for people at high risk of developing severe Covid.
Then the entire FDA will make a decision and the matter will be referred to the Centers for Disease Control and Prevention. The CDC will conduct a similar process with its advisory members.
Initially, panelists were divided over who should receive callbacks. Some have suggested older people. Others said it would make sense to offer boosters to people with compromised immune systems, people with diabetes and those who are deemed obese. But for young people, the benefit is minimal, especially given the known risk of heart inflammation after the second dose.
“The efficacy data is pretty much limited to increasing antibody levels,” said Dr. Michael Kurilla, explaining his vote against the boosters for all people 16 years of age and older. “The added benefit to the younger population hasn’t really been demonstrated at all.”
In the stock market today, vaccine stocks have generally declined. BioNTech stock fell 3.6% to 359.18. Moderna stock slipped 2.4% to 430.05. Pfizer stock fell 1.3% to 43.89.
Vaccine stocks: huge opportunity to boost
The recall opportunity could be huge for vaccine stocks. SVB Leerink analysts on Thursday estimated the opportunity could be worth $ 3-4 billion in the United States alone. But investors have already incorporated this opportunity into vaccine stocks.
Previously, councilors voted in favor of booster shots of Pfizer-BioNTech and Moderna vaccines for some immunocompromised people.
Follow Allison Gatlin on Twitter at @IBD_AGatlin.
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