Bavarian Nordic Monkeypox vaccine wins EU approval

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00:00The EU has approved a monkeypox vaccine made by biotech firm Bavarian Nordic.

00:07That's according to the Danish company on Monday.

00:10It said the European Commission would allow its Invanex shot to be marketed as protection against the disease.

00:16Previously, the EU had only allowed it to be shown as a treatment for smallpox.

00:21The decision comes just a day after the World Health Organization called the rapidly spreading monkeypox a global health emergency.

00:29The vaccine has already been approved in the United States and Canada.

00:33Bavarian said the development of Invanex was made possible by big investment from the US government over the past two decades.

00:40The news cheered investors. Bavarian's share price rose 3% after the update.

00:46Its stock is up more than 120% over the last three months, driven by strong demand for the monkeypox vaccine.

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