The U.S. health regulator has withdrawn emergency-use authorization for AstraZeneca’s (AZN.L) COVID-19 antibody cocktail Evusheld as the treatment is not expected to neutralize the currently dominant XBB.1.5 subvariant of Omicron.
The Food and Drug Administration (FDA) had limited Evusheld’s use earlier this month for the same reason and the agency’s Thursday announcement sent U.S. shares of London-based AstraZeneca down 1.31% to $65.75.
Omicron subvariant XBB.1.5 has been spreading rapidly in the country since December and it made up nearly half of all U.S. COVID-19 cases last week, according to government data.
The FDA’s decision resonates with concerns raised by the European health regulator about the effectiveness of monoclonal antibodies such as Evusheld against newer variants.
Discover more from News Facts Network
Subscribe to get the latest posts sent to your email.
