Core Insights - Novavax has received FDA approval for its Covid-19 vaccine, Nuvaxovid, after a delay, but with specific usage restrictions for certain age groups [2][4] - The approval reflects skepticism within federal health agencies regarding vaccines, particularly from appointed leaders [3] - Novavax must conduct additional studies to assess potential links between its vaccine and heart conditions, such as myocarditis [6][7] Group 1: FDA Approval and Restrictions - The FDA approved Novavax's Covid-19 vaccine, limiting its use to individuals aged 65 and older and those aged 12 to 64 with underlying health conditions [2][4] - The approval comes after the vaccine was previously used under emergency authorization since 2022 [4] Group 2: Market Position and Partnerships - Novavax is preparing for commercial delivery of its vaccine in the U.S. this fall, in partnership with Sanofi, following a $1.2 billion licensing deal [8] - The partnership with Sanofi is expected to enhance Novavax's market share in the Covid vaccine sector due to Sanofi's strong distribution capabilities [8] Group 3: Financial Implications - The full approval has triggered a $175 million milestone payment to Novavax from Sanofi, which is significant for the company [9] - Analysts suggest that the narrower approval may not be detrimental, as the 65 and older age group represents a substantial portion of the Covid vaccination demographic [9]