(Reuters) - Novavax Inc said on Wednesday it will manufacture its COVID-19 vaccine in Canada after the country's health regulator allowed its use in children aged between 12 and 17 years as a primary series of shots.
Production of test batches of the protein-based vaccine, Nuvaxovid, will begin at the Montreal manufacturing center by early 2023, the company said.
The agency's approval was based on a late-stage study which showed the vaccine was effective against COVID-19 in children aged between 12 and 17 years.
Earlier this year, the Canadian health regulator had allowed the use of Novavax's vaccine for primary series and as a booster in adults above 18 years of age.
Hurt by a global supply glut in COVID-19 vaccine and waning demand, Novavax cut its full-year revenue forecast last month to a range of $2 billion and $2.3 billion. Shots from rivals Pfizer/BioNtech and Moderna were approved last year for initial vaccination of adolescents in Canada, hurting the vaccine maker further.
Shares of the Maryland-based company rose 5% to $17.64 in early trade.
(Reporting by Khushi Mandowara; Editing by Krishna Chandra Eluri)