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Valneva Plunges After Europe Slashes Covid Vaccine Order

Valneva SE fell as much as 15% after the European Union slashed its order of the French company’s Covid-19 vaccine.

European countries will now buy 1.25 million doses of Valneva’s vaccine after amending a previous purchasing agreement that called for 27 million doses in 2022 and as many as 60 million over two years.