Pfizer, BioNTech updated COVID vaccine to treat new variants gets CHMP recommendation use in Europe

Pfizer Inc.
PFE,
-0.69%
and BioNTech SE
BNTX,
+2.06%
said Wednesday that its updated COVID-19 vaccine, which is tailored to the new Omicron XBB.1.5 variant has been recommended to receive marketing approval by the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA). The recommendation is for the updated vaccine to be administered as a single dose to those who are at least five years old, regardless of COVID vaccination history. The CHMP recommendation follows data showing that updated vaccine generated improved response against XBB-related variants, including XBB.1.5, XBB.1.16, XBB.2.3 and EG.5.1. The companies said if the European Commission approves the vaccine, the vaccine will be ready to ship immediately. Pfizer’s stock slipped 0.2% and BioNTech shares gained 0.6%, while the S&P 500
SPX,
+0.38%
edged up 0.5%.