By Maitane Sardon
Shares in Valneva plunged after the company said France's health authorities suspended the use of its chikungunya vaccine, Ixchiq, for people aged 65 and older, raising concerns about the vaccine's safety and potentially impacting future sales of the shot.
The stock was 12% lower at 2.78 euros, paring some losses after earlier trading as much as 20% lower.
The French biotech company said France's national public health agency, the Haute Autorite de Sante, had temporarily suspended the chikungunya vaccine for older adults after three serious adverse events, including one death.
The vaccine is being used for the prevention of the disease caused by the chikungunya virus, a mosquito-borne disease which causes fever, severe joint and muscle pain and nausea among other symptoms.
Valneva continues to use the vaccine in adults under 65 and is engaging with the authorities to resolve the situation.
The suspension in the elderly raises concerns about the vaccine's safety profile in vulnerable populations and means the company may have to update the label and indication, Bryan Garnier analysts said in a research note.
Write to Maitane Sardon at maitane.sardon@wsj.com
(END) Dow Jones Newswires
April 28, 2025 04:06 ET (08:06 GMT)
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